Build a first-day creditors and security-interest map
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- From company records, register searches and the books, table creditors, claimed security, guarantees and related-party claims with document references.
- What the lawyer must review
- Analyse priority under the security and the insolvency ranking rules
- Do not treat a generated map as proof of security
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | From company records, register searches and the books, table creditors, claimed security, guarantees and related-party claims with document references. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Verify every relied-on citation, figure and name against the source document.
- The responsible lawyer approves the exact version before use.
Forms and precedents for this task
| Form or precedent | Kind | AI use | Summary |
|---|---|---|---|
| ASIC Form 507: report on company activities and property | Form | AI use Yellow | Link to ASIC Form 507, the report on company activities and property at the start of an external administration. |
| Restructuring creditor classification sheet | Form | AI use Yellow | Sheet for sorting creditors of a company in small business restructuring into affected creditors, excluded creditors and admissible debts, as ASIC describes those terms. |
Signed-in accounts can read the full text of each one. All precedents.
Sources
Confirm the required checking with the responsible lawyer before work starts. The checking approach does not establish permission to use AI.