COVID-19 has made an undeniable and significant impact on many businesses around Australia. With each lockdown and implementation of harsh restrictions, business owners and directors are forced to scramble to keep their business afloat. No doubt liquidators will shortly be inundated with companies desperately trying to evaluate their options.

Insolvency, voluntary administration, bankruptcy and liquidation are terms that are consistently being thrown around. But what do they mean? Is there a difference?

Insolvency