Insolvency and COVID-19: Australia

Whether your business, practice or clients are in financial distress during this time, it is important to seek help early. View our resources to help you with insolvency.

Reasons why businesses go insolvent:

  • Loss of major customer
  • New competitor
  • Business growing too fast
  • Business outgrowing its founders’ know-how

Signs to look for with your business and your clients:

  • Time spent on financial crisis is more than time spent managing the business
  • Cashflow tightened
  • Forecast targets consistently missed
  • Accounts payable days stretching from 30 to 90 days plus
  • Superannuation and tax obligations sliding

Read more about these reasons and signs, and how you can help save companies from insolvency in the article below.

How to save companies from insolvency: 6 steps to a turnaround

When a business’s finances go pear-shaped, insolvency and restructuring experts can make a difference to its survival.

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Join the discussion in My CA Groups

Connect with other CAs and experts to ask questions you may have about insolvency.

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Know the early warning signs of a business in trouble

Early identification of warning signs can give businesses the best chances of survival.

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Q&A: Client in insolvency

This Q&A answers: What client information am I required to give to an insolvency practitioner in Australia?

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Q&A: Client in bankruptcy

This Q&A answers: What client information am I required to give to a trustee in bankruptcy in Australia?

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Navigating and making decisions during COVID-19: Decision tree

CA ANZ has designed a decision tree tool for our members in New Zealand and Australia aimed to help business make decisions in a COVID-19 world.

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'Tips on managing clients effectively through COVID & beyond' webinar

View a recording of the webinar on our COVID-19 Sharing Knowledge Webinar Sessions page.

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Helping clients with companies in financial distress in Australia

This guidance outlines options available to your clients, and where to go for specific insolvency and turnaround advice.

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'Businesses in distress: strategies and options' webinar

View a recording of the webinar on our COVID-19 Sharing Knowledge Webinar Sessions page.

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Continuing professional development - Webinar: Insolvency update and COVID-19

Keep up to date with insolvency developments impacting Australian SMEs and businesses in this 1-hour introduction webinar.

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Can CAs who aren’t registered liquidators help wind up solvent companies?

I’m a CA, not a registered liquidator – what insolvency related engagements can I perform?

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How to save companies from insolvency: 6 steps to a turnaround

When a business’s finances go pear-shaped, insolvency and restructuring experts can make a difference to its survival.

Read moreAbout How to save companies from insolvency: 6 steps to a turnaround

Is this business ready for relaunch?

Some COVID support measures may end in a few months, but should you wait until then to call time on a borderline business?

Read moreAbout Is this business ready for relaunch?

Australian Institute of Company Directors - Insolvency Preparedness: The shifting eye of the storm

This webinar will provide suggested strategies around the courses of action available to directors dealing with the prospect of insolvency in their own company or within their supply chain or customer networks.

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Australian Institute of Company Directors - Insolvency fears front of mind for organisations during COVID-19

An article that discusses why boards should be alert to changing financial risks.

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Australian Bankruptcy Act 1966 with regulations and rules (CCH Australia, 2019) ebook

Available at CA Library, this eBook details the Bankruptcy Act, Insolvency Practice Rules (Bankruptcy), Transitional provisions - Insolvency Law Reform Act 2016, Bankruptcy Regulations, Bankruptcy Guidelines, Federal Court (Bankruptcy) Rules 2016, Federal Circuit Court (Bankruptcy) Rules 2016 and Related legislation.

View nowAbout Australian Bankruptcy Act 1966 with regulations and rules (CCH Australia, 2019) ebook

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