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.

 

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services

we advise insolvency clients across all areas of expertise, in particular:
advising creditors and directors on claims by insolvency practitioners
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

  • sweet sale success

    The administrators of a small chocolate making company needed to fend off a winding up application to give them time to find a buyer for the business. Macpherson Kelley convinced the Court three times it was in the best interests of creditors for adjournments of the winding up order to be granted. As a result, the administrators were able to find a buyer for the business as a going concern. The jobs of 15 employees were saved in the lead up to Christmas and the business continues to operate under the new owner.

  • 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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