What is corporate insolvency?

Corporate insolvency is when a company is unable to pay all its debts when they fall due.

The directors must then decide what to do to maximise the return to creditors while avoiding insolvent trading, which can lead to them being held personally liable for the company’s debts. We specialise in advising directors  on how to meet their obligations under the Corporations Act 2001. We can also assist directors who have received penalty notices.

What are the options for a company facing financial difficulty?