This article was written by Nancy Wang Principal Solicitor at W & G Lawyers.
When a company fails, the people it owes money to are often the ones left most in the dark. The directors step back, an outside professional — called an external administrator (an administrator or liquidator) — takes over the company’s records, and you, the creditor, still have to make hard decisions. Should you make a claim? Should you sue? Is it worth the money and effort? The law helps by giving you a right to ask for information, and a way to force the issue if you’re refused. Here’s how that works in Australia.
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