insolvency

Insolvency. It’s a place no business wants to go. And if it’s looming for you, your client, or someone who owes you money, you need the best advice possible.

It’s a complicated place, too, where intense technical knowledge and detailed process goes hand-in-hand with industry experience, negotiating skills and lateral thinking.

We work with many different types of clients who find themselves in this space –insolvency practitioners who need technical legal expertise for their appointments, company directors who need to minimise their risk or exposure, and creditors who need to be paid (or worse, have already been paid and are asked to give it back).

Insolvency. It’s a place no business wants to go. And if it’s looming for you, your client, or someone who owes you money, you need the best advice possible.

It’s a complicated place, too, where intense technical knowledge and detailed process goes hand-in-hand with industry experience, negotiating skills and lateral thinking.

We work with many different types of clients who find themselves in this space –insolvency practitioners who need technical legal expertise for their appointments, company directors who need to minimise their risk or exposure, and creditors who need to be paid (or worse, have already been paid and are asked to give it back).

Each situation needs a different approach, and working the process from every angle helps us navigate the system to help our clients get the best result possible, allowing them to get on with business in the future.

Because no matter who they are, that’s what everyone wants from insolvency. And that means getting there efficiently and with the least possible stress.

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services

we advise insolvency clients across all areas of expertise, in particular:
advising creditors and directors on insolvency practitioner claims
advising insolvency practitioners
assisting on complex distressed asset sale transactions
litigation in all jurisdictions
ppsa advice for secured creditors and insolvency situations
restructuring options for directors and companies
working with corporate and personal insolvency appointments

recent experience

  • a going concern

    Macpherson Kelley was engaged by an administrator appointed to a large manufacturing business which was already facing wind up proceedings that needed to be adjourned. We had an uphill battle, but managed to convince the court this was in the creditors’ and client’s best interests. The adjournment allowed the business to be sold to a supplier as a going concern, an unusual event when trading had already ceased, which yielded a higher return than an asset sale, so everyone benefited.

  • business or personal

    Macpherson Kelley acted for a company director facing claims of insolvent trading, unreasonable director related actions and breaches of duties. The director’s husband had gone bankrupt and she was involved because the couple had mingled their personal and company finances. The client feared losing her house, her last remaining asset. The case was complicated, as the lack of record keeping was a cause of the problem in the first place, and made a defence even more difficult. We were able to negotiate a settlement, avoiding bankruptcy for the director and allowed her to keep her house.

  • speed is the essence

    Macpherson Kelley had to act quickly when a liquidator needed to freeze the assets of a company director and his wife. The company director had forged documents to redirect money paid by creditors into his personal accounts and those of his wife. We obtained the freezing orders before he was able to dispense the assets further and was able to issue proceedings and negotiate a settlement facilitating a dividend to creditors.

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