The insolvency profession is a dynamic and highly specialised field. This course of five learning manuals is designed for those who are entering the profession or existing practitioners who need a refresher.

Module 1: Introduction to insolvency and reconstruction

  •  Aims and principles of modern insolvency law 
  • The legal framework and institutions of insolvency in Australia 
  • Core functions of an insolvency administration 
  • What types of insolvency administrations are there, and how do they differ? 
  • Company administrations – a comparison 
  • Individual and partnership administrations – a comparison
  • Diagnosing financial failure

Module 2: Corporate receivership and other forms of controllership

  • Terms, definitions and institutions
  • Receivers’ and ‘receivers and managers’
  • Controller and Managing controller 
  • PPSA 
  • Australian Securities and Investments Commission (ASIC) 
  • The courts 
  • Mortgagee in possession 
  • Ordinary unsecured creditors 
  • Summary of relevant provisions of the Corporations Act 2001 (Cth) 
  • Powers of appointment 
  • Effects of appointment

Module 3: Voluntary administration and other arrangements with creditors

  • Voluntary administration under Part 5.3A of the Corporations Act 2001 (Cth)
  • Commencement of the administration
  • Appointment by the company – Section 436A 
  • Appointment by a liquidator or provisional liquidator – Section 436B 
  •  Appointment by a substantial secured party – Section 436C 
  • Court-approved schemes of arrangement for corporations 
  • Informal turnaround arrangements with creditors 

Module 4: Liquidation

  • Purposes of liquidation 
  • Australian Securities and Investments Commission (ASIC) 
  • Companies Auditors and Liquidators Disciplinary Board (CALDB) 
  • The court 
  • Contributories 
  • Committees of inspection 
  • Liquidators 
  • Winding-up in insolvency
  • Administration of the liquidation 
  • Offences under the Corporations Act 2001 (Cth)
  • Liquidation versus receivership 
  • Liquidation versus Part 5.3A administration 

Module 5: Bankruptcy

  • Bankruptcy administration: terms, definitions and institutions 
  • The court 
  • The Inspector-General 
  • Operation of bankruptcy 
  • How does a debtor become bankrupt?
  • Specific duties under the Bankruptcy Act 1966 (Cth) 
  • Parts IX and X of the Bankruptcy Act 1966 (Cth) 

This course consists of five hard copy learning manuals and five online assessments.

Want to know more? Click below to view a sample of the learning manual:

Learning objectives

  • List and describe the present range of insolvency administrations applying to corporations and to individuals/partnerships
  • Explain the distinction between the terms ‘insolvency’, ‘bankruptcy’ and ‘liquidation’
  • Compare and contrast the broad functions and procedures carried out within corporate – as opposed to individual – insolvency administrations
  • Discuss the aims of modern insolvency law
  • Explain the characteristics of receivership and controllership
  • Explain the status and rights of both secured and unsecured creditors under these administrations
  • Identify the effects of receivership and its inter-relationships with other insolvency procedures, especially winding-up
  • List the powers, duties and obligations of controllers
  • Outline the method of appointment of a controller and avenues available to interested parties
  • Explain and distinguish between the following reconstruction arrangements with creditors:
                –    voluntary administrations
                –    deed of company arrangement
                –    court-approved scheme of arrangement
                –    informal arrangement with creditors
  • Explain the role of the administrator under the corporate arrangements available
  • List the purposes of liquidation
  • List the different modes of insolvency liquidation and outline how each may be initiated
  • Explain the role and position of liquidators including their responsibilities and the regulation of their conduct by ASIC and the Companies Auditors and Liquidators Disciplinary Board (CALDB)
  • Identify the legal effects of liquidation
  • Describe the process involved in administering a liquidation and identify the major procedural issues with which a liquidator will be concerned
  • Identify the property which is available to be recovered by a liquidator in administering a liquidation, and apply the law which relates to the actions that are available to a liquidator to recover the property
  • Explain the procedural difficulties faced by liquidators in winding-up a company’s affairs
  • Identify the powers and duties which liquidators have in administering a winding-up, and the constraints they face in realising assets.
  • List and explain the options which are available to insolvent individuals
  • Explain how bankruptcies can be initiated.
  • Compare and contrast the law which applies to individuals with concepts of law applicable in a company liquidation
  • List the legal effects of bankruptcy
  • Explain the role and position of a trustee in administering a bankrupt estate
  • Explain the process involved in administering a bankrupt estate
  • Outline the procedures involved in terminating a bankruptcy


This learning manual is suited for those working in:

  • insolvency and reconstruction
  • bankruptcy, receivership and liquidation
  • public practice, government and government enterprise sectors

365 Days