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Guidance for Unsecured Creditors

Insolvency law and practice is a complicated area. The foundations of insolvency law come from the Corporations Act and the Bankruptcy Act. Laid on those foundations is a very large body of case law and rulings from professional bodies such as the Institute of Chartered Accountants and the Insolvency Practitioners Association. Further, major creditors, such as banks, operate under their own Code of Practice.

On top of all the above lay the commercial realities of negotiation between conflicting commercial interests in an environment of imperfect information.

The professionals at FSIA had many years of experience in Australia and internationally in dealing with the complex situations that arise in large insolvencies. We have provided some guidance for unsecured creditors on specific areas where we regularly receive queries:

* How to recognize insolvency
* Effects of insolvency on directors, creditors and advisors
* VAs from a Lessor’s perspective
* Key legal provisions for creditors
* Independence of external administrators

FSIA’s mission is to represent individual creditors to optimise their recovery from insolvent clients. Please contact us if you have specific queries.