Bankruptcy & Insolvency
When you owe money, there are many options available to you. You can pay all your debts in full and on time, but this isn’t always the smartest move. The best plan for you depends on:
- your asset position;
- the debts owed and who they are owed to;
- how your debts are structured, for example you may have companies or trusts;
- your income and expenses;
- most importantly – your plans for the future.
Bankruptcy & Insolvency Team
We regularly deal with bankruptcy, corporate insolvency including liquidation, administration and receivership and all related legal issues. When debts are pressing you sometimes need advice from insolvency professionals other than lawyers and we can connect you with the best people to help you. The network of insolvency professionals we draw upon have done it all from restructuring small businesses right up to some of the largest corporate insolvencies in Australian history.
And when people owe you money? Or if you are a bankruptcy trustee, liquidator, administrator or receiver?
You can also take advantage of our specialist insolvency knowledge!
The team and plan we will put together for you:
- takes into account your individual circumstances – we listen!
- draws on our experience – we are the experts!
- helps you achieve the best possible outcome – you win!
Matters our lawyers have handled include:
- advising people considering bankruptcy, including one individual who allegedly owed over $40,000,000;
- assisted with the process by which bankrupts can end their bankruptcy early (called “annulment”);
- acting for a franchisee to have a provisional liquidator appointed to a franchisor who refused to pay franchise fees (or staff wages) - resulting in a suitable settlement arrangement;
- advising on statutory demands and bankruptcy notices - often resulting in arrangements which do not result in bankruptcy or liquidation;
- negotiating with the Australian Taxation Office (ATO) concerning unpaid tax debts;
- providing advice of all kinds to company administrators, liquidators and receivers;
- acting for liquidators to recover preferential payments made to certain creditors which are unfair to other creditors;
- acting for company directors against the Australian Securities and Investments commission (ASIC) - including when allegations are made concerning very large amounts of money;
- preparing deeds of company arrangements - which enable companies to keep trading with an arrangement in place with creditors; and
- acting for secured creditors to have receivers appointed and recover secured assets, including entire operating businesses.