Corporate Insolvency
Business Financial Stress is often responsible for the demise of both a business and a lifetime’s hard work but sometimes even the end of a business owner’s personal assets.
Often when a business owner or Company Director finds him or herself in a tough financial position, they are advised by their Accountant, their Solicitor or even their friends to contact a Liquidator and place the company into Voluntary Liquidation.
The belief is that because you are paying the Liquidator, they will look after your best interests. But is that really the case?
Liquidators, Administrators and Receivers are usually nice people, but their responsibility, once they are appointed, is to your Creditors (people you owe money to) and to the Courts.
They are instructed to collect as much money as possible from the Liquidated Company to pay off these creditors. They cannot advise the business owner in relation to his/her own affairs.
Strategic Solutions represents the business owner’s interests by:
Advice on Dealing with Creditors
Implementation of agreed strategies
Putting strategies in place for businesses experiencing solvency issues
Evaluating insolvency alternatives
Aiding with the continuation of the business and business goodwill
Dealing with Banks and the ATO
Easing the pressure for the business owner
Strategic Solutions Assists Company Directors with Company Affairs by
Advice on when to appoint, how to appoint in Voluntary Administration, Receivership & Liquidation
Attending insolvency investigation interviews to assist the Director
Negotiating with insolvency practitioners, secured creditors, employees and other unsecured creditors
Dealing with liquidators in the defence of insolvent trading actions
Drafting assistance in relation to a Deed of Company Arrangement (DOCA)
Attending creditor meetings alongside the Director
Dealing with receivers, liquidators and administrators after their appointment
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