There are a number of formal and informal options to address company insolvency and we can advise and assist you in each of these.
While informal insolvency options are covered through our other services, below are the appointments we can undertake:
- Voluntary AdministratorAdministration, Liquidation, Deed of Company Arrangement or a Liquidator, and Bankruptcy Trustee sought by the directors, or creditors or sometimes shareholders of a company
- Receivership or Manager sought be a secured creditor, director or concerned stakeholder
- Statutory Trustee (66G of the Conveyancing Act 1919), or
- We can assist when the director of a solvent company wishes to liquidate via a Member’s Voluntary Liquidation when a solvent company wishes to appoint a liquidator.
Formal insolvency options can sometimes be seen as a last resort in times of financial distress and we explore all other available options before recommending such an approach. But an effectively planned, managed and executed external administration can, in the right circumstances, provide significant relief and opportunity for revival in times of financial distress.