Form · Insolvency, Restructuring & Bankruptcy
Restructuring creditor classification sheet
Sheet for sorting creditors of a company in small business restructuring into affected creditors, excluded creditors and admissible debts, as ASIC describes those terms.
- Kind
- Form. A form to complete, or a guide to completing an official one.
- Where it applies
- Commonwealth
- AI use
- Yellow You and the tool draft together, with you directing. You check every statement you rely on.
- Law stated as at
- 22 October 2026
- Status
- Maintained. Checked on 22 October 2026 against the authority it cites, for Commonwealth.
- Version
- 1
- Source
- Written for this library
When to use it
Use when building a creditor list for a restructuring proposal, or the creditor half of a first-day map. It does not record security interests.
Used for these tasks
- Advise directors on entering small business restructuring
- Build a creditor schedule from books and proofs of debt
- Build a first-day creditors and security-interest map
Each task page says how far AI may help with the task and what the lawyer must review.
How AI may be used
The tool lists creditor names and amounts from a schedule the lawyer supplies, and the lawyer classifies each creditor.
AI may
- Copy creditor names and amounts from the schedule into the table.
- Leave the classification column blank.
AI must not
- Do not decide that a creditor is excluded or that a debt is admissible.
- Do not include a security-interest opinion. This sheet does not deal with the Personal Property Securities Register.
- Do not draft the schedule of debts and claims that goes into the proposal statement.
The lawyer checks
- Use ASIC's descriptions of affected creditor, excluded creditor and admissible debt.
- ASIC says an admissible debt is one that would be admissible under section 553(1) if the company were wound up, and does not include employee entitlements or a debt admissible only under section 553(1A). Section 553 was not opened.
- The relevant date ASIC states is the beginning of the restructuring.
Method: how the Green, Yellow and Red levels are decided. This is guidance for planning, not legal advice.
Official form
Open the official form. Always use the current version from the issuer.
Read the full text
The full text is available after you log in. It is free. When you log in you can:
- read the whole precedent, with its drafting notes beside it;
- copy it, or download it as a Word file or Markdown;
- add it to your firm’s knowledge base, so colleagues can find it;
- let the AI tools you connect read it from that knowledge base.
The summary, the law it rests on and the AI-use guidance above stay public. Privacy.
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