WebWhen performing the duties of liquidator, the official receiver is an office holder, the same as any insolvency practitioner, and consequently they are personally liable for their actions ... WebInsolvency practitioners manage insolvency solutions including IVAs. If you’re considering getting an individual voluntary arrangement (IVA), you’ll need to understand what an insolvency practitioner is, and how they set up and manage your IVA for you. ... At this stage they have legal duties to fulfil and need to report to your creditors ...

Directors

WebKey takeaways. The new section 588GA of the Corporations Act 2001 (Cth) (Act) provides a “safe harbour” from insolvent trading claims for directors who, when suspecting a company may be or is insolvent, start developing a course of action that is reasonably likely to lead to a better outcome for the company.. In deciding whether a course of action provides … WebJun 17, 2015 · Should you intend to sell any of the assets to an officer of the company, consult an Insolvency Practitioner prior to the transaction. ... Directors’ duties cease at the date of liquidation, although the director’s full ongoing co-operation and assistance is required by the Liquidator. The company’s directors must: shannon kelly lawyer

Key roles and duties of an insolvency practitioner

WebInsolvency Practitioners are ultimately responsible for managing the affairs of the insolvent entities over which they are appointed. They must ensure all statutory requirements are … WebFeb 10, 2024 · The duties and responsibilities of insolvency practitioners are varied and require various skills, including financial expertise, legal knowledge, and excellent communication and negotiation skills. Some of the essential duties and responsibilities of insolvency practitioners include the following: WebFeb 2, 2012 · INSOLVENCY PRACTITIONER Trustee in bankruptcy: Shane Filan of Westlife Claimant liquidator in leading case (HLC Environmental … shannon kelly obituary