Insolvency - avoid the adverse consequences

摘要

At a time when the Australian automotive industry is under intense competitive pressure, it is an unfortunate reality that some companies will be forced to cease operating. The consequences of insolvency are serious to the company concerned, to the company's employees and to other companies throughout the automotive supply chain. It is important that directors of a potentially insolvent company, and the companies that supply and purchase from the company, are aware of the adverse consequences of insolvency, and take the necessary steps to mitigate the adverse affects it may have on them.