We assist our clients in navigating through the complex legal and commercial parameters of insolvency to ensure they are protected, secured and prepared for potential dangers. We protect insolvency practitioners, directors, creditors and business owners at this most difficult of times. We navigate the snakes and ladders of the Corporations and Bankruptcy Acts to safeguard your rights.
Insolvency & Reconstruction is the area of law concerned with the ability to pay debts when due and payable. When a company or individual is unable to pay their debts as and when they fall due, they are by definition “insolvent”. It is basically a “cash flow test” but other factors can be relevant in determining whether a person or company is insolvent at any point in time.
There can come a time in the life of a business or an individual when there is simply not enough money to continue operations. Insolvency can be triggered by expected or unexpected things. For example, issues with money can arise with changes in law or market conditions, a client not paying you, illness or just plain bad luck. When a business faces financial trouble, you must act fast and get the right advice. This is because the maze of insolvency law can end up engulfing you without effective and responsive action. Your limited resources must be used wisely and achieve the goal efficiently. This means you need to have an effective and efficient team to get you from despair and disorganisation to safety and solid foundations.
Insolvency is a harrowing period of time causing immense strain on businesses and their people. Not knowing how to pay bills, and being pressed by angry creditors can wreck havoc on emotions. This can lead to bad decision making. Insolvency law is complex, technical and involves practical skills in managing competing interests over limited resources. There are many unskilled and unqualified “helpers” out there who are prepared to take their client on a ride to nowhere. To navigate through this difficult period, and to achieve a positive outcome, stakeholders need support and advice from an excellent insolvency lawyer. A excellent insolvency lawyer has a thorough knowledge of the Corporations Act and the Bankruptcy Act, and vast experience in hundreds of different cases involving various issues in various industries.
We have specialised in insolvency and reconstruction for over 25 years and act in all types of insolvency matters. Over that time, we have handled over 2000 cases for liquidators.
Restructuring & Asset Protection
Businesses facing a cashflow crisis need fast, effective and practical help. When faced with a mountain of debt, and demands from angry creditors, people get overwhelmed and start making mistakes and bad choices. In this scenario, the business owner needs space and time to make better decisions. This breathing space could be gained through a formal or informal work-out or restructure.
We guide businesses through various formal or informal work-outs including advising clients on their debt, protecting their personal assets, and maintaining the value of their business tangible and intangible assets. An effective preventative strategy requires due consideration of tax implications and possible voidable transactions.
We will help you solve the problem no matter how complex. Talk to us about:
Tax Structuring
Securitisation
Debt-equity swaps
Refinancing/recapitalisation
Creditor Negotiations
Share Transfers
Multi-party workouts
Safe harbour
Informal work-outs
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There are a variety of options available to an insolvent company to formally restructure or have an orderly demise. Selecting the best pathway requires a close consideration of the macro and the micro issues, the big picture and the specific needs of the stakeholders. A well-executed insolvency strategy can achieve surprisingly happy outcomes from the midst of dark, uncertainty. Having an experienced insolvency lawyer to support you at this time is essential to shaping the most appropriate outcome, whether that is voluntary administration, informal restructuring or an ultimate liquidation.
Business owners may also be worrying about employees, leases, and their own personal liability under guarantees and director’s duties. I advise insolvency practitioners, business owners, directors and shareholders on a daily basis to achieve fast relief and commercial results from severe financial distress and issues that arise from administrations.
We help you solve the problem no matter how complex. Talk to us about:
Winding up applications, adjournments & defences
Public examinations
Schemes of arrangements
Preferential payment claims
Insolvent trading
Voidable transactions
Debt moratoriums, standstill agreements and refinances
Creditors’ trusts
Personal Property Securities Register (PPSR)
Employment issues stemming from insolvency
Workout arrangements
Court applications for appointments of a liquidator, provisional liquidator, receiver or trustee
Directions and other applications
Trust issues, intermingling of funds
Personal Property Securities Register (PPSR)
Forensic accounting
Remuneration approvals
Investigations into the conduct of liquidators
Personal Insolvency
Personal insolvency can be one of the most stressful experiences in life. It can lead to breakdowns in relationships and can be a demoralising experience for the individual. It can also be the start of new beginnings, and herald a new chapter in life.
I have 20 years experience in representing insolvent individuals and their families, and bankruptcy trustees in complex matters and can also sensitively develop an appropriate course of action for individuals. I have handled cases ranging from recovery of Rolex watches, to advising trustees on challenging familial undervalued international transactions.
We will help you solve the problem no matter how complex. Talk to us about:
Insolvency agreements
Compositions and annulments
Property disputes, family law proceedings or voidable transactions
Bankrupt deceased estates
Do you owe people money? Are you being pursued by your creditors?
You need to act now and have specialist advice. I can help you today if you are seeking advice about:
Debt
Recovery action by your creditors or debt collectors
Overwhelmed and stressed, have too much debt and want to peace of mind
Pros and cons bankruptcy
Part IX consumer debt agreement
Part X personal insolvency agreement
Are you a bankruptcy trustee?
We act for trustees in bankruptcy in all administrations, regulatory and court matters. We can assist in:
Professional compliance and administrative matters before the Official Receiver
Public examinations both in Court and before AFSA officials
Section 305 funding applications
Section 77A notices and related proceedings
Voidable transaction and trust recoveries
Section 139ZQ notices and related proceedings
Sale of real property and related negotiations and court applications
Applications for the appointment of trustees for sale
Remuneration and directions applications; and
Specialist services including family law and deceased estate matters
Our Insolvency & Reconstruction Expertise
The stakeholders in a company are the directors, shareholders and creditors. Each have an interest in the successful administration of an insolvent company. Sometimes their respective interests align and at other times, their interests might compete. I have experience in managing aligned and competing interests to achieve complex goals within narrow commercial and legal parameters.
We advise directors on matters such as:
Whether there is any avenue to avoid liquidation
The effect of external administration on suppliers, creditors and assets
Personally liability under guarantees, indemnities and directors duties
We advise creditors on matters such as:
Equitable and legal rights
Security and failure of security
Priority disputes
Personal Property Securities registration issues
Removing insolvency practitioners and disputes with administrators
