Compliance Management and Risk Prevention of Chinese Enterprises' Investment and Operation in Australia

The legislation on bankruptcy in Australia mainly includes two aspects, one is the Bankruptcy (Estate Charges) Act 1997 and the Bankruptcy Act 1966, which deal with personal bankruptcy. Unlike in the United States, in Australia, the term 'bankruptcy' is specifically used for personal bankruptcy, and companies cannot go bankrupt with 'bankruptcy', which is the same in Australia and the United Kingdom; On the other hand, there are regulations related to corporate bankruptcy, mainly reflected in Chapter 5 'External Administration' of the Federal Companies Act, which consists of 120 articles and provides comprehensive and detailed provisions for four major categories of procedures: Arrangements and Restructuring, Reception, Voluntary Administration, and Liquefaction