It’s vital to research insolvency practitioners you are considering. To help you select a Registered Liquidator or Bankruptcy Trustee that suits your needs, individual circumstances, business and budget, many of Insolvency Australia’s listed practitioners provide details on their specialty services, expertise and experience, and with their details at your fingertips you can contact them to request further information, including their ‘track record’ of companies and individuals they have previously assisted. As insolvency procedures and restructures can be stressful, it’s important to appoint a practitioner that understands your needs, is a right fit for you and/or your business, and recommends and manages a solution that achieves the best possible outcome.
Put simply, not all insolvency practitioners are created equal and it’s important to know who you are dealing with before you hand over control of your personal financial affairs or your company, its assets, stakeholders and creditors.
Currently in Australia there are fewer than 648 Registered Liquidators and 200 Bankruptcy Trustees who are subject to a code of ethics, standards, rules, ongoing competency requirements, reviews and a disciplinary process. In fact, a Liquidator must be registered to be appointed to any type of insolvent external administration.