Company Insolvency

We understand that dealing with company insolvency can be fraught with difficulties for the parties involved, and we work to ensure the best outcomes for our clients. 

We have a combined experience of over 40 years in helping clients to weather insolvency storms. We render legal services to companies, directors, secured and unsecured creditors, lenders, liquidators, administrators and receivers on all aspects of pre-insolvency and insolvency matters. 

Because we work with clients on varying sides of insolvency matters, we have a deep understanding of the issues that may arise on either side and will use our expertise to advise you appropriately. Additionally, our lawyers are conversant with the Corporations Act and can provide legal advice on any complex matters that may arise. 

Our Approach 

In every corporate insolvency matter that we take on, our first step is to understand your business and the facts of your case, to enable us to tailor our advice to your specific situation. We will then advise you on your options, recommending the most commercially viable strategy for your case, and inform you of the next steps. We will take action swiftly, and keep you updated throughout the process. 

Pre-insolvency services 

▶︎ Safe Harbour Advice 

Under the Corporations Act, a director may be protected from liability if the director, upon suspecting that the company may become or be insolvent, begins to develop plans of action that are likely to lead to better outcomes for the company than commencing insolvency proceedings. 

We provide advise to directors on their legal options for restructuring the company without commencing formal insolvency proceedings. Please contact us as soon as you suspect that the company might be approaching insolvency. 

▶︎ Advice on Directors’ Duties 

We advise directors on their general duties and their duties to the creditors of the company. We also advise directors on whether they are likely to be held personally liable for transactions or dispositions done immediately before a company becomes insolvent. 

We provide legal services to insolvent companies, creditors and insolvency practitioners in the following insolvency proceedings: 

• Liquidation 
• Voluntary Administration 
• Deed of Company Administration (DoCA) 
• Receivership 
• Court-sanctioned Schemes of Arrangement 

Services for Insolvent Companies 

• Responding to Statutory Demands 
• Drafting resolutions for voluntary liquidation or administration 
• Drafting and negotiating a DoCA 
• Responding to summonses 
• Representing the company in court at winding up proceedings 
• Prosecuting applications to set aside winding-up applications 
• Defending voidable transaction claims 
• Advising on the appointment of liquidators, administrators and receivers 
• Providing general legal advice on the rights and obligations of the company 

Services for Creditors 

• Preparing and issuing Statutory Demands 
• Commencing and prosecuting winding up proceedings against the insolvent company 
• Defending applications to set aside winding up application 
• Advising on the appointment of liquidators, administrators and receivers 
• Prosecuting voidable transaction claims 
• Applying for summonses 
• Conducting examinations of directors 
• Negotiating a DoCA 
• Providing general legal advice on the rights and obligations of the creditors 

Services for Insolvency Practitioners (Liquidators, Administrators, Receivers) 

• Advising on their powers under the Corporations Act or instrument of appointment as the case may be 
• Drafting a DoCA 
• Prosecuting voidable transaction claims 
• Applying for summonses 
• Conducting examinations of directors 
• Advising generally on insolvency proceedings