TYPE COMMENCED BY REASON WHO MAY ACT APPOINTEE TITLE POWERS FROM
INDIVIDUALS
BANKRUPTCY
Bankruptcy Creditor or debtor Realise assets to pay creditors Registered Trustee or Official Receiver Trustee or Official Receiver Bankruptcy Act
ARRANGEMENT UNDER PART X OF THE BANKRUPTCY ACT
Personal Insolvency Agreement (“PIA”) Debtor Arrangement to pay creditors Registered Trustee Trustee Bankruptcy Act
COMPANIES
LIQUIDATION
Court Liquidation Creditor, Director or Member Realise assets to pay creditors Official Liquidator Official Liquidator Corporations Act
Provisional liquidation Creditor, Director or Member Preserve assets in the short term Official Liquidator Provisional Liquidator Corporations Act
Creditors’ voluntary liquidation Members & Creditors Realise assets to pay creditors Registered Liquidator Liquidator Corporations Act
Members’ voluntary liquidation Members Wind up of a solvent company Registered Liquidator Liquidator Corporations Act
CONTROLLER
Agent for the Mortgagee Mortgagee Realise assets to pay mortgage Anyone Controller or Managing Controller Mortgage document
Receivership Private Mortgagee Realise assets to pay mortgage Registered Liquidator Receiver or Receiver & Manager Mortgage document and Corporations Act
Court Appointed Receiver Creditor, Director or Member Control given to receiver usually as a result of a dispute Registered Liquidator Receiver Court Orders and Corporations Act
VOLUNTARY ADMINISTRATION
Voluntary Administration Directors or Mortgagee Control handed to Administrator to recommend best course. Registered Liquidator Administrator Corporations Act