BLO 3405 Lecture 11: lecture sum 11

• School: Victoria University
• Department: BLO
• Course: BLO 3405
• Professor: lalith seelanatha

Document Summary

In the event of insolvency of a customer, the choice of insolvency process depends on the type of customer involved. Partnerships the personal insolvency procedure may be bankruptcy ( with other alternative available, such as personal insolvency agreement). For more information on personal insolvencies refer to the afsa website. The process is governed by the bankruptcy act 1966 (for debts >,000). Various options exist for different types of creditor: Description of insolvency processes: external administration of companies. The following insolvency processes involve the appointment of an external controller whose engagement in the company may displace the company"s directors. All 3 processes described below are forms of external administration".