Information Sheets on Insolvency
Information for Stakeholders in Insolvency
ASIC asks that Insolvency Practitioners provide a copy of the document titled "Insolvency information for directors, employees, creditors and shareholders", the relevant information sheets, or information on how to access the relevant information sheets to those affected by a company's insolvency as early in an external administration as practical.
The IPA, in the Code of Professional Practice (Practice Note - Creditors' Meetings [currently in draft for consultation], Statement of Best Practice - Calling and Conducting a Creditors' Meeting), requires it's members to include the one page Co-branded summary "Insolvency information for directors, employees, creditors and shareholders" at the first distribution opportunity for communication to stakeholders, particularly creditors, directors and employees. This summary must be provided to creditors before any meeting of creditors.
| Document Purpose | Link |
|---|---|
| Insolvency information for directors, employees, creditors and shareholders (IPAA and ASIC) | Summary |
| Creditor Information Sheet: Approval of Remuneration (IPAA) | CIS |
| Creditor Information Sheet to accompany s439A Report | CIS439A |
| Insolvency: a glossary of terms (ASIC) | Glossary |
| Insolvency: a guide for directors (ASIC) | Directors |
| Insolvency: a guide for shareholders (ASIC) | Shareholders |
| Liquidation: a guide for creditors (ASIC) | Liq Cr |
| Liquidation: a guide for employees (ASIC) | Liq Emp |
| Receivership: a guide for creditors (ASIC) | Rship Cr |
| Receivership: a guide for employees (ASIC) | Rship Emp |
| Voluntary Administration: a guide for creditors (ASIC) | VA Cr |
| Voluntary Administration: a guide for employees (ASIC) | VA Emp |
| Independence of External Administrators: a guide for creditors (ASIC) | Independence |
| Approving fees: a guide for creditors | Fees |