Corporate Insolvency Options and COVID-19 Impacts

Description

This presentation will provide attendees with an overview of the options available to a corporate entity unable to pay its debts, the temporary changes to the corporation’s act, and the enforcement procedures implemented in response to the COVID-19 outbreak.

Andrew will cover the main types of formal appointments detailing the method of commencement, the activities undertaken over the timeline of the appointment, and the role of external administrator.

Andrew will provide some case studies that cover:

  • An appointment of Voluntary Administrator.
  • The three types of Liquidation including a Members Voluntary Liquidation, a Creditors Voluntary Liquidation and a Court Liquidation.
  • An appointment of Receiver.

He will also include some information on the purpose and benefit of Deeds of Company Arrangement as well as his insights on which of these options might be best suited to businesses struggling in the current environment.

Webinar Learning Outcomes:

  • A basic understanding of all main formal options available to businesses unable to pay their debts.
  • What a Voluntary Administration is, its purpose, the appointment timeline and how it is commenced and concluded.
  • A definition for Members Voluntary Liquidation, Creditors Voluntary Liquidation and Court Liquidation, the circumstances of each and who can initiate them.
  • How a Receivership is commenced, the situations where this is used to recover assets and how it can co-exist with a Voluntary Administration or Liquidation.
  • The role of the Voluntary Administrator, the Liquidator and the Receiver as well as how these differ from each other.
  • An understanding of the term Deed of Company Arrangement (DOCA) and what is meant by a ‘Holding DOCA’.
  • The temporary changes to the corporation’s act surrounding insolvent trading actions and the additional measures introduced by state and federal governments to assist businesses in distress as a result of the COVID-19 event.

Suited to:
• Professional advisors including accountants and solicitors as well as directors and business owners.
• Directed at businesses within the SME space.
• Content Is Introductory to Intermediate.

Presenter Bio:
Andrew Blundell is a registered liquidator and is a Partner in the Sydney office of Worrells Solvency & Forensic Accountants. In addition to 13 years’ experience in Insolvency and Corporate Advisory, Andrew spent 5 years in the United States in both management and public practice accounting roles. He holds a Bachelor’s degree in Accounting and Marketing from the University of Western Sydney, a Diploma in Advanced Insolvency Law from the University of Southern Queensland, has completed the CPA Australia Program and is a full member of the Australian Restructuring, Insolvency and Turnaround Association (ARITA), Institute of Professional Accountants and of CPA Australia.

You will be provided with: 
• PowerPoint presentation slide deck 
• Supporting documentation 
• Webinar Recording to view multiple times for up to 6 months 
• An opportunity to ask the presenter questions

  • Jun 09
    Tue, 1:00 PM AEST - 2:00 PM AEST Online
    • $185.00 incl. GST
    • PD hours: 1

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Recordings

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