The following points are covered in this paper:
- when is an entity insolvent?
- when is voluntary administration, receivership, liquidation or deregistration most appropriate and under which circumstances?
- how can Directors' Penalty Notices be avoided?
- if Directors' Penalty Notices are received, how are they best dealt with?
- how are the Court's approaching preferential payments made to the Commissioner of Taxation?
- what is the risk of an adviser being deemed to be an officer of an incapacitated entity under the law?