Legal Project Management Plan & Checklist
Purpose of this Guide: Welcome to the specialised practitioner roadmap for commencing winding up proceedings in insolvency following non-compliance with a statutory demand. Designed explicitly for corporate insolvency litigators, this guide covers originating processes, ASIC registry advertising, and final court hearings. Additional forms are accessible via the Australia Government Portal.
Jurisdiction: This guide applies to winding up applications in the Federal Court of Australia or State Supreme Courts. Verify current guidelines on the official .
The Process at a Glance: If the Debtor defaults, the Creditor must file an Originating Process (Form 2) for winding up within 3 months of the non-compliance. The process involves:, lodging notices with ASIC, advertising the hearing on the ASIC Published Notices portal, serving the debtor, obtaining a liquidator's consent, attending court.
* Disclaimer: We're nobody's lawyer, because we aren't lawyers. You are, so you know better than to take legal advice from an app. We also aren't accountants or dog trainers - just digital spirit guides taking zero liability for any of this. This site exists to gather the collective knowledge of practitioners like you. Verify everything and submit your feedback on the Corporate Insolvency: Statutory Demand (Creditor) - Winding Up Proceeding on Default matter plan to improve the playbook. THIS IS NOT LEGAL ADVICE, it's a request for input.
This legal matter plan provides a structured workflow for COMMERCIAL_LAW cases, outlining the standard LITIGATION process. Utilize these tracking templates to manage your legal cases efficiently.
Draft and file Form 2 Originating Process and supporting affidavit.
Verify all prerequisite documentation has been obtained, cross-reference against the statutory requirements for this matter type, and confirm compliance with practice direction protocols.
s 459P Corporations Act 2001 (Cth) - specifies who may apply for a company to be wound up in insolvency (creditor, company itself, director, ASIC, or a liquidator).
s 459Q - the application based on failure to comply with a statutory demand must be filed within 3 months after the failure to comply. If not filed within 3 months, the presumption of insolvency under s 459C(2)(a) lapses and the creditor loses the benefit of the statutory demand.
Prepare the relevant forms and supporting materials required under the applicable legislation, ensuring all mandatory fields are completed and all attachments are properly certified.
The ASIC search must be no more than 7 days old at the time of filing - this confirms the company's current status (not already in administration or liquidation).
The affidavit should also address the debt remaining unpaid and the absence of any set-aside application.
Draft and dispatch formal correspondence addressing the procedural requirements at this stage, including any required notices, requests for information, or proposals for resolution.
Lodge Form 519 with ASIC and serve the application on the debtor.
Coordinate the collection and review of all financial documentation required for disclosure, including statements, valuations, and supporting schedules as mandated by the rules.
Publish notice on ASIC Published Notices website and secure Liquidator consent.
Assess the strategic considerations for interim applications, prepare supporting evidence, and draft the necessary documentation for urgent or time-sensitive relief sought.
ASIC Form 519 must be lodged by 10:30 am on the next business day after the originating process is filed - this strict deadline is frequently missed and failure to comply may delay proceedings.
The purpose is to alert ASIC and the public that court action has been commenced against the company.
Conduct a thorough review of all filed materials to ensure compliance with court requirements, verify service obligations have been met, and prepare for the next procedural milestone.
Corporations Regulation 5.6.12 - requires publication of the winding up application on the ASIC Published Notices website. This replaced the previous requirement to advertise in a daily newspaper.
Failure to advertise may result in the hearing being adjourned.
Verify all prerequisite documentation has been obtained, cross-reference against the statutory requirements for this matter type, and confirm compliance with practice direction protocols.