Question:
This assignment is a study of company directors within the specific context of company insolvency.
The essay requires students to provide a written discussion as to the following issues:
- What are the signs that a company is insolvent, and what actions and proactivity is required of the directors in these circumstances?
- What are the potential liabilities of company directors in the event of a company becoming Solvent?
- What are the different avenues available to the company, in particular to the directors, if the company is presumed to be insolvent?
- What is the difference between voluntary and involuntary interventions by different parties concerned by the potential insolvency of the company?
- What might be a good outcome for a company other than being wound up by the creditors, and how might this be achieved?
- What are the statistics on insolvency regarding Australian companies?
- Are there any topical issues regarding insolvency of Australian companies'?
- What is the role of ASIC and any other statutory authorities regarding an insolvent company?
- Make any appropriate observations regarding insolvency you believe might be relevant as a result of your reading and research. You must refer to any real life situation's (i.e. case's) in your essay.