Financial problems or insolvency
This page provides information for Victorian incorporated associations and companies limited by guarantee that are concerned about their finances or facing financial difficulties.
Not-for-profit community organisations may face financial difficulties for any number of reasons, and what to do next when such issues arise can be extremely stressful, especially for committee members.
Whatever the cause of your financial questions, you need to be aware of the possibility and consequences of insolvency on you organisation and its committee.
Our information sheet covers:
- what is insolvency
- how your committee can protect against insolvency
- whether your committee has a duty to prevent insolvent trading
- what the consequences are of breaching this duty, and
- what you can do if your organisation is facing insolvency.