This Online CPD Insolvency and Liquidation Insights course, outlines steps to help you consider your options and to try to manage the processes to minimise damage and reputations.

Expression of Interest CPD Courses

Undertaking this course earns you 2 CPD Points.

Course Outline

1. I am in trouble !

• understanding the different types of insolvency and administrators and how they affect you and your business
• explanation/overview of each type of administration
• who appoints the administrators and liquidators
• what assets are affected
• how creditors are affected

2. They have gone bankrupt !

• the risk of working for only one client and the effect of bankruptcy
• effect on cash flow
• personal services income – tax implications
• liquidation clauses in contracts – flow on effect
• can you finish the contract ?

3. Letters from the Tax Office:

• Statutory notices from the Tax Office or other creditors and the legal and business implications of complying
• Garnishee Notices from the Tax Office
• Notices under Section 459E of the Corporations Act
• Statements of Liquidated Claim and Judgments
• The concept of being insolvent

4. I have gone bankrupt !

• Bankruptcy’s effect on you, your employees and others
• What happens to your business when the administration starts
• What happens to the assets
• How the creditors are paid
• How the administrator is paid
• When does it finish?

5. Can I start over?

• what to do once the liquidator’s gone –
• how it affects your credit rating
• dealing with customers and suppliers
• disqualification – and whether or not to buy the business from the liquidator.
• your reputation and whether it suffers
• purchase of business including goodwill
• credit rating
• disqualification of directors
• loss of Licences

Once you have completed this course, you will need to fill out and submit the Acknowledgement Form.The Acknowledgement Form must be completed and submitted as soon as practicable after having completed this course. If we do not receive this completed form from you, it cannot verify that you have successfully completed this course should you be audited by the NSW Office of Fair Trading.

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