Difficult financial times can come to the doorstep of almost any business. Indeed, there are thousands of businesses in Australia every year that experience financial hardship.
In the event, it is critical that directors understand their legal obligations, directors’ duties and what assistance is available to them. Insolvency lawyers can help with devising a strategy and advising on the many options available.
Insolvency may not be the end of the business and there may be an opportunity to restructure and reinvent the business. Arrangements might be made with the creditors that you may not have thought possible.
There are many options to consider before seeking the assistance of a liquidator and having a lawyer advise you of the process can assist you. The liquidator is not a legal advisor but acts in the interests of the creditor , but for the company so it is important to have advice that will protect you.
We are experienced in advising business owners who find themselves in difficult circumstances and planning a way through insolvency, which often results in better outcomes. We can assist with the following:
Statutory Demands and Wind-up Proceedings
Acting for Creditors and Debtors in preparing and advising on Statutory Demands and subsequent wind-up proceedings.
Creditors and Debtors Advice
Advice on debt negotiations, voting and drafting of agreements.
General Insolvency Advice & Safe Harbour Provisions
Advice prior to engaging administrators or liquidators is key to protecting you and engaging the safe harbour provisions.
Deed of Company Arrangements
Advice and assistance with negotiation of debts with creditors and DOCA drafting.
Advice and assistance with appointment of, and responding to, liquidators.
Advice and assistance with negotiations and dealing with administrators.
Advice and assistance with negotiations and documentation of company restructures.
Advice on how company directors can protect themselves with safe harbour provisions.
Liquidators Disputes & Advice
Advice for those involved in disputes or negotiations with liquidators.
Personal Bankruptcy Advice on Part IX and debt arrangements.
We are experienced in and ensuring that proper documentation and agreements are put in place to protect the business going forward. There are ways that help ensure the future success of the business – by turning it around – in many cases.
Where liquidation is the only option, we will provide you fast, relevant legal advice in relation to your circumstances.
Our commercial lawyers are experienced in assisting and advising clients through the process of liquidation and administration.
It is important to remember that the liquidator does not act for you and will not act in the best interests for you so having an advisor that does can help you in complex and difficult situations.
Contact us today on 1300 907 335 or fill out the enquiry form on this page and one of our lawyers experienced in this complex area of law will contact you promptly.