services › insolvency

This firm has expert knowledge and extensive experience in insolvency law, advising both insolvent companies and individuals and insolvency practitioners.

As a member of The Insolvency Practitioner Association of Australia, we are able to access a range of services provided by this Association on behalf of our clients.

Personal Insolvency

We assist individuals who have been affected by personal insolvency to bring about an orderly resolution of their financial problems, minimise the impact on their family’s wealth, and make a new start.

In many cases, we are able to assist insolvent individuals to avoid becoming bankrupt by settling creditor claims through alternatives to bankruptcy, such as Personal Insolvency Agreements and other forms of composition or settlement with creditors.  We advise on the appropriate structuring of such arrangements and assist our clients to obtain creditor approval.

Where individuals are unable to avoid bankruptcy, we assist them in their dealings with their trustee-in-bankruptcy, for example, negotiating access to passports, as well as acting for family members or corporate entities to defend claims against their assets which may be brought by the trustee-in-bankruptcy.

We act for and advise a number of trustees-in-bankruptcy in connection with the legal issues that may arise in the course of a bankruptcy administration, including tracing assets and bringing proceedings in relation to voidable transactions under the Bankruptcy Act.

We often attend creditors’ meetings to advise the debtor or the trustee, or as a proxy of a creditor to obtain relevant information from the debtor.

Corporate Insolvency

We advise company directors on responding appropriately to corporate insolvency, including the appointment of administrators, liquidators or receivers, and the structuring, negotiating and drafting of deeds of company arrangement (DOCA).

In many cases we are able to resolve creditor claims and preserve the underlying business through a DOCA, or, where liquidation has already occurred or is unavoidable, in a new entity by way of sale and licensing arrangements.

We also act for liquidators and administrators, providing them with expert advice regarding insolvent trading and voidable transactions, conducting court proceedings (including public examinations), and preparing a wide range of documentation such as indemnity deeds, licences, sale of business agreements and DOCAs.

We frequently attend creditors’ meetings to advise the administrator, liquidator or directors of the insolvent company, or on behalf of creditors as their proxies.

Specific examples of our work in this area have included:

  • assisting a client to purchase a retail chain of over 100 stores from an administrator;
  • assisting with the purchase of an IT company that was in administration with a view to having it relisted;
  • advising the directors of a publicly listed company whose trading had been suspended as a result of financial difficulties;
  • the negotiation of a deed of company arrangement whereby an insolvent public company was recapitalised and then relisted.