From worrells.net.au: With the ATO escalating their debt collection activity, there has been a surge in urgent inquiries about how swiftly insolvency practitioners can step in to counter the personal liability linked with ‘non-lockdown’ Director Penalty Notices (DPNs).

In a recent example, the company’s accountant called in at lunchtime on the day the DPNs issued to the directors were due to expire.

So, what’s the timeline for a corporate insolvency appointment?

Typically, the process of appointing an insolvency practitioner can be expedited. However, the makeup of the company’s directors and shareholders, and sometimes, the magnitude of the company’s liabilities, can influence the available options.