Receivership, where a receiver is appointed over some or all of the property of a company, usually for the primary purpose of realising that property for the benefit of a secured creditor. Receivership is primarily governed by Chapter 5, Part 5.2 of the Corporations Act 2001 (Cth) (CA 2001) and Chapter 5, Part 5.2 of the Corporations Regulations 2001 (Cth) (Corporations Regulations).

Voluntary administration, where an administrator is appointed to an insolvent company (usually by the company itself or a secured creditor with security interest over all or substantially all of the company's property) to assess its financial position and creditors ultimately vote on whether the company should enter into a deed of company arrangement (DOCA), be placed into liquidation or be returned to the control of the directors. Voluntary administration is primarily governed by Chapter 5, Part 5.3A of the CA 2001 and Chapter 5, Part 5.3A of the Corporations Regulations.

Administration of a DOCA, which is a possible outcome of voluntary administration. A DOCA will commonly provide for a sale of company assets or a restructure of the company, the payment of all or part of the company's admitted debts (from which the company will be released), and the ability of the company to continue after satisfaction of the terms of the DOCA. DOCAs are governed by sections 435A to 451D in Chapter 5, Part 5.3A of the CA 2001 and regulations 5.3A.01 to 5.3A.07A in Part 5.3A of the Corporations Regulations.

Liquidation, which involves the appointment of a liquidator to a company (usually voluntarily by the company itself, by court order on application by a creditor or by creditors at the conclusion of a voluntary administration) to wind down the company's business, investigate the circumstances which preceded the liquidation, recover and realise the company's assets (if any), distribute the assets (proceeds of sale) among creditors and deregister the company. Liquidation is governed by Chapter 5, Parts 5.5, 5.6, 5.7B and 5.8-5.9 of the CA 2001 and Chapter 5, Part 5.6 of the Corporations Regulations. A simplified liquidation process is available for small businesses in certain circumstances within a creditors' voluntary liquidation under Part 5.5, Division 3, Subdivision B, CA 2001.

Provisional liquidation, where the court appoints a liquidator to a company on a provisional basis after the filing of a winding up application but before it is heard, in order to safeguard the assets of the company and maintain the status quo pending the hearing of the application (section 472(2), CA 2001).

Small business restructuring, which is a statutory restructuring (debtor-in-possession) regime under Part 5.3B of the CA 2001 (and related subordinate legislation) designed to enable an insolvent small business to restructure its debts under a restructuring plan supervised by a restructuring practitioner.

Insolvency Practice Schedule (IPS) in Schedule 2 to the CA 2001.

Insolvency Practice Rules (Corporations) 2016 (Cth) (IPR).