Author Archives : ProInsolvServices

The Voluntary Administration Process

On August 6, 2015, Posted by , In Insolvency,Liquidation, By ,,, , With Comments Off on The Voluntary Administration Process

The voluntary administration process can be a vital asset to corporate insolvency as it aids companies to satisfy their debts. This is usually achieved through a Deed of Company Arrangement (“DOCA”) or by entering liquidation. Part X of the Bankruptcy Act can also provide a solution to insolvency. DOCA –…

Insolvent Company Directors

Companies faced with corporate insolvency and insolvent company directors, as recently seen looming in the North Queensland mining industry, such as Rockhampton amongst others.  Companies like these set the scene for once-multimillion dollar business projects crashing down in debt with no real prospect of paying its creditors. When the dust…

The Mining Industry & Insolvency

On July 24, 2015, Posted by , In Bankruptcy,Insolvency,Liquidation, By ,,,, , With Comments Off on The Mining Industry & Insolvency

Some very prominent and well recognised mining industry and insolvency professionals have stated, “2015 is set to be a tough year for the mines and related industries. The creation of the Mackay Port cargo facility will see the region heavily involved with the industry as it becomes the first point…

What is Insolvency

On June 25, 2015, Posted by , In Bankruptcy,Insolvency,Liquidation, By ,,,,, , With Comments Off on What is Insolvency

Have you ever asked yourself “what is insolvency?” Insolvency is a word that can be used to describe both individuals (sometimes called bankruptcy), but is more commonly used to describe businesses or companies. What does Insolvent Mean? It is said that a business becomes insolvent when it cannot pay its…

What is Bankruptcy

On April 30, 2015, Posted by , In Bankruptcy,Insolvency,Liquidation, By ,,,, , With Comments Off on What is Bankruptcy

What is Bankruptcy?  When a person cannot pay their debts they are called a debtor.  The person that the debtor owes the debt to is called a creditor. A debtor and a creditor can both file petitions forcing the debtor into bankruptcy, the debtor with a debtor’s petition and a…