Insolvency law reform 2020 (New types of external administrations)

Job types

Insolvency law reform in 2020 introduced the following job types:

Job Type	Appointee Description	Job Suffix
Restructuring	Restructuring practitioner	Restructuring practitioner appointed
Restructuring plan	Restructuring plan practitioner	Restructuring plan practitioner appointed
Creditors Voluntary Liquidation (Simplified)	Liquidator	In liquidation

Transitions

A Restructuring job may transition to a Restructuring plan.

A Creditors Voluntary Liquidation may transition to a Creditors Voluntary Liquidation (Simplified).

Updated forms

ASIC restructuring forms are integrated into the software. See the ASIC website for background on new and amended forms.

Updated checklists

New standard checklists have been issued and are now available in version April 2021. System checklists are available for:

• SBR Proposal
• SBR Plan
• SCVL (currently in development and to be shipped as a separate update)

Restructuring Documents templates

Some documents templates are included with the release, such as:

• Consent to act as restructuring practitioner
• Restructuring Claim and Voting form
• Consent to Act as Restructuring Practitioner

Note

• In version 2010.10, initial support was added for the new job types Debt restructuring process and Creditors' voluntary liquidation (simplified). These job types have been updated.
• ASIC Statutory Forms 5602 and 5603 are required for restructuring and SCVL job types.