Bankruptcy is a legal process where a trustee is appointed to administer an insolvent person’s affairs in order to provide a fair distribution of that person’s assets to their creditors.
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Part X (Part 10) is a part of the Bankruptcy Act that allows a debtor to enter into an arrangement with their creditors without being made bankrupt.
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Official liquidation is a process of a Court ordering the winding up of a company’s affairs and the appointment of a liquidator in order to provide for a dismantling of a company’s affairs and a fair distribution to creditors.
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Voluntary Administration is designed to assist companies to either come to a formal arrangement with their creditors to pay their debts, or are quickly and inexpensively placed into liquidation.
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The Personal Property Securities Act (PPSA) came into operation on 30 January 2012 and replaced a number of provisions in the Corporations Act dealing with the registration and exercising of securities over assets. The operations of the PPSA are significant in the event of the appointment of an external administrator or trustee.
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Company directors are legally responsible for ensuring that their company meets its pay as you go (PAYG) withholding, “net” GST (goods and services tax, wine equalisation tax and luxury car tax) and superannuation obligations. If a company fails to comply with their obligations to pay the debt by the due date for payment, company directors are held personally liable for the amount the company should have paid.
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Level 8 / 102 Adelaide St Brisbane Qld 4000
GPO Box 2228 Brisbane Qld 4001
(07) 3225 4300
(07) 3225 4311
brisbane@worrells.net.au
40 151 214 174
Suite 54 HQ@Robina 58 Riverwalk Avenue Robina Qld 4226
PO Box 4448, Robina Town Centre Qld 4230
(07) 5553 3444
(07) 5553 3455
goldcoast@worrells.net.au
35 363 340 494
Suite 4, Level 3, Bryant House, 26 Duporth Avenue, Maroochydore QLD 4558
PO Box 1479, Maroochydore QLD 4558
(07) 5459 1000
(07) 5459 1011
sunshinecoast@worrells.net.au
75 378 713 027
Level 1, 160 Brisbane Street, Ipswich Qld 4305
PO Box 2605, North Ipswich QLD 4305
(07) 3280 6200
(07) 3280 6211
ipswich@worrells.net.au
40 151 214 174
195 Hume Street Toowoomba QLD 4350
PO Box 114, Toowoomba QLD 4350
(07) 4637 6500
(07) 4637 6511
toowoomba@worrells.net.au
40 151 214 174
Suite 54 HQ@Robina 58 Riverwalk Avenue Robina Qld 4226
PO Box 4448, Robina Town Centre Qld 4230
(02) 6621 7500
(02) 6621 3293
lismore@worrells.net.au
35 363 340 494
Suite 5A, Level 5, 34 East Street, Rockhampton City QLD 4700
PO Box 1450, Rockhampton QLD 4700
07 4922 9118
07 4994 9818
rockhampton@worrells.net.au
75 378 713 027
Suite 12, Noosa Professional Office, 1 Lanyana Way, Noosa Heads QLD 4567
PO Box 1479, Maroochydore QLD 4558
(07) 5447 3766
(07) 5447 3799
noosa@worrells.net.au
75 378 713 027
Building 11 Unit A, Lakes Vista Park, 2 Flinders Parade North Lakes QLD 4509
PO Box 1204, North Lakes QLD 4509
(07) 3204 5688
(07) 3448 0116
northlakes@worrells.net.au
40 151 214 174
Suite 12, 36 Grafton Street, Cairns QLD 4870
PO Box 3117 Cairns QLD 4870
(07) 4058 5400
(07) 4058 5411
cairns@worrells.net.au
90 218 669 951
C/O WOTSO, Level 2, Westfield Chermside, Chermside Qld 4032
GPO Box 2228 Brisbane Qld 4001
(07) 3225 4360
(07) 3225 4311
michael.griffin@worrells.net.au
40 151 214 174
M1 Business Centre, Suite 2, 3972 Pacific Highway, Loganholme QLD 4129
(07) 3801 6200
07 3801 6211
logan@worrells.net.au
40 151 214 174
Unit 1, 39 Old Cleveland Road Capalaba QLD 4157
GPO Box 2228 Brisbane Qld 4001
(07) 3225 4313
(07) 3225 4311
nikhil.khatri@worrells.net.au
40 151 214 174
Building 5, 22 Magnolia Drive, Brookwater, Qld 4300
PO Box 779 Ipswich Qld 4305
(07) 3063 7599
(07) 3280 6211
springfield@worrells.net.au
40 151 214 174
Level 1, Suite 3, 2036 Logan Road, Upper Mount Gravatt QLD 4122
GPO Box 2228 Brisbane Qld 4001
(07) 3225 4330
(07) 3225 4311
mountgravatt@worrells.net.au
40 151 214 174
Suite GB, WIN Tower, 2 Barolin Street Bundaberg QLD 4670
PO Box 1479, Maroochydore QLD 4558
(07) 4153 7000
(07) 5459 1011
bundaberg@worrells.net.au
75 378 713 027
Level 15 565 Bourke Street, Melbourne Vic 3000
GPO Box 1834, Melbourne Vic 3001
(03) 9613 5500
(03) 9613 5599
melbourne@worrells.net.au
72 945 540 327
44 Lydiard St Sth Ballarat Vic 3350
All mail to GPO Box 1834, Melbourne Vic 3001
(03) 5336 9700
(03) 9613 5599
ballarat@worrells.net.au
72 945 540 327
177 View St, Bendigo Vic 3550
All mail to GPO Box 1834, Melbourne Vic 3001
(03) 5444 3783
(03) 9613 5599
bendigo@worrells.net.au
72 945 540 327
Level 1, Unit 5/72 Gheringhap Street, Geelong, VIC 3220
All mail to GPO Box 1834, Melbourne Vic 3001
(03) 5222 7624
(03) 9613 5599
geelong@worrells.net.au
72 945 540 327
Suite 22C, 435 Nepean Hwy Frankston Vic 3199
All mail to GPO Box 1834, Melbourne Vic 3001
(03) 8785 9080
(03) 9613 5599
frankston@worrells.net.au
72 945 540 327
Suite 5/303 Maroondah Highway, Ringwood, Vic 3134
All mail to GPO Box 1834, Melbourne Vic 3001
(03) 9876 9554
(03) 9613 5599
ringwood@worrells.net.au
72 945 540 327
Level 15 565 Bourke Street, Melbourne Vic 3000
All mail to GPO Box 1834, Melbourne Vic 3001
(03) 9613 5500
(03) 9613 5599
narrewarren@worrells.net.au
72 945 540 327
Level 15 565 Bourke Street, Melbourne Vic 3000
All mail to GPO Box 1834, Melbourne Vic 3001
(03) 9613 5500
(03) 9613 5599
essendon@worrells.net.au
72 945 540 327
Suite 1, Level 15, 9 Castlereagh Street, Sydney NSW 2000
GPO Box 4956 Sydney NSW 2001
(02) 9249 1200
(02) 9249 1211
sydney@worrells.net.au
83 542 598 451
Suite 1.04B, 4 Ilya Avenue, Erina NSW 2250
PO Box 3463, Erina NSW 2250
(02) 4363 6300
(02) 4363 6311
centralcoast@worrells.net.au
83 542 598 451
Suite 601B, Level 6, 91 Phillip Street, Parramatta NSW 2150
PO Box 207, Parramatta NSW 2124
(02) 8844 1200
(02) 8844 1211
westernsydney@worrells.net.au
83 542 598 451
Suite 1, 151 Tongarra Road, Albion Park NSW 2527
PO Box 73, Albion Park NSW 2527
(02) 4257 6076
(02) 4210 8616
wollongong@worrells.net.au
83 542 598 451
121 Byng Street, Orange NSW 2800
(02) 6361 3633
(02) 8844 1211
CentralWest@worrells.net.au
83 542 598 451
Level 2, AMP Building 1 Hobart Place, Canberra ACT 2601
GPO Box 214, Canberra ACT 2601
(02) 6287 6000
(02) 6287 6011
canberra@worrells.net.au
83 542 598 451
Level 4, 15 Ogilvie Road, Mount Pleasant, WA 6153
PO Box 828 Applecross WA 6153
(08) 9318 4900
(08) 9318 4996
perth@worrells.net.au
11 614 433 674