Experiencing Corporate Insolvency?
Corporate insolvency means that a company cannot pay its debts when they become due. When a company is insolvent, there are some options open to the directors of the business. These options are liquidation, voluntary administration and receivership.
As trusted Gold Coast insolvency lawyers, we can give legal advice on which option is best for the insolvent company. We can also help businesses in financial distress to map out a plan for successful business restructuring. We can give trustworthy corporate insolvency advice on the way forward for the business.
If a company goes through the process of liquidation, it means that the company shuts down and stops operating. The company’s assets will be sold, and the money recovered will be used to offset its debts.
If the company chooses to go through voluntary administration, a voluntary administrator takes over the control of the company. He investigates the affairs of the company and gives his assessment of the company’s difficulty. He gives recommendations after his assessment.
Receivership is the third option. Under receivership, a company appoints a secured creditor, or the courts appoint a receiver to collect and sell the company’s assets for its creditors. The receiver’s role is to take control of the secured assets to repay the secured debt.
We are registered professionals who give the right advice and guidance on corporate insolvency. And we will help you make informed decisions about your company’s future.
Insolvency Advice & Services We Provide
At Crest Lawyers, we have a team of professional lawyers that specialise in insolvency and are committed to providing solutions for companies in distress. Our range of corporate insolvency services include:
Corporate insolvency advice and counsel about the options available to the company
Personal Insolvency Options
Drafting deeds of company arrangement
Bankruptcy and Winding up proceedings
Creditor’s Statutory Demands
Examinations of directors
If your Gold Coast business is insolvent, reach out to us for professional help and counsel. Where we do not believe that a business can be saved, we will advise the parties on the action to take that will be most beneficial for all stakeholders.
We Provide Corporate Insolvency Advice with Compassion and Confidentiality
Crest Lawyers are a team of committed professionals that provide a full range of legal services and advice to clients on the Gold Coast. Our specialty cuts across a range of matters, including family, corporate, property law and more.
When it comes to corporate insolvency on the Gold Coast, we’ve got the best corporate solvency advice. Because we understand the emotional distress that a business owner feels when their company is insolvent, we carry out our duties professionally but with compassion and care.
You don’t have to worry about the privacy of your financial problems. We are dedicated to seeing your business rise, and so we will do all within our power to make sure that our clients have the right guidance and complete confidentiality throughout the insolvency process.
Let us help you with your corporate insolvency matter. Contact us today!