Who should attend
The course is aimed at new entrants to the insolvency profession, who are either just beginning their career or entering the profession from a different vocation.
There are no prerequisites for the Introduction to Insolvency Program. However, we recommend you have three months' experience prior to attending this course.
Note: an ARITA student subscription is required to enrol in this course.
- Describe each of the different types of formal insolvency appointments and how they interact.
- Explain the structure of the Corporate Act and Bankruptcy Act, including the Insolvency Practice Schedules and Rules.
- Research routine matters encountered on insolvency engagements using the Corporations Act, Bankruptcy Act, ARITA Code, reference materials and the internet.
- Give a brief explanation of the Personal Property Securities regime and searching the Personal Property Securities Register.
- Outline the procedures, including statutory obligations and timeframes, involved in completing a:
- creditors’ voluntary liquidation (and compare that to a court liquidation)
- voluntary administration and deed of company arrangement
- small business restructuring
- For voluntary administrations, explain the purpose of the first and second meetings, content to be included in the voluntary administrator's report and the role of the court.
- Explain the different types of recoverable transactions and be able to identify those transactions.
- Adjudicate on the proofs of debt, explain the type of supporting documentation required for proofs of debt, rank the creditors' claims in order of priority, explain the process to declare a dividend, and calculate available funds.
- Explain creditors' right to request information and meetings and the importance of the proper handling of creditor queries.
- Give a brief explanation of when meetings are held, meetings processes, proxies and use of proofs of debts in meetings.
- Explain personal liability of appointees in liquidations, voluntary administrations, receiverships and small business restructuring.
- Explain how to complete annual and end of administration returns.
- Overview of insolvency
- Legislation, research materials, ARITA Code
- An introduction to Personal Property Securities Act
- Liquidations (including simplified liquidation)
- Voluntary administrations & deeds
- Small business restructuring
- Proofs of debt
- Dealing with creditors
- Personal liability
- Administrative tasks
Please note: This course provides only an introduction to personal insolvency.
There is no formal assessment in the IIP. Upon successfully completion of the course you will receive an electronic certificate of attendance.
All IIP courses are conducted by trainers with extensive experience in insolvency, including practitioners, former practitioners, lawyers and academics.
2021: $1,445 (including GST)
You must be an ARITA Student to enrol for this course. Student subscription costs $202.40 (incl. GST), is not transferable and is not refundable in the event of cancellation.
Please note: If you are based overseas, there may be an additional postage/courier fee. Please contact our education team to confirm.
Course delivery & time commitment
This is a trainer-presented, fully-interactive live online video training via electronic classroom that runs for four consecutive days, with four hours commitment each day. Assigned pre-course reading must be completed before the course begins.
Join the training from your Learning Centre (the ARITA LMS uses Zoom platform for online sessions).
More information about the electronic classroom & system requirements.
Up to 14 CPE hours
What will you receive?
Prior to the course commencing you will be provided with:
- Pre-course reading materials that provide an ongoing valuable reference source.
- An online quiz to assess your understanding of the pre-course reading materials.
- Current ARITA Handbook, which contains ARITA’s Code of Professional Practice and extracts of relevant legislation.
- Course workbook containing handouts covering the course content and exercises to reinforce learning.
During the course you will receive:
- Suggested solutions to all exercises.