Madgwicks’ Insolvency & Reconstruction Team provides strategic legal advice to liquidators, administrators, receivers, trustees, companies and debtors. As part of our approach to being ‘connected’, we have developed long-standing relationships with Australia’s largest and boutique corporate turnaround and insolvency management firms.
Whatever your situation is, our approach to helping you has some fundamental principles. We make ourselves accessible, at the Partner level, and go into problem-solving mode as soon as we’ve been briefed. We’ll call a spade a spade – but we’ll work around the clock to give you options.
But most importantly, when working with us you will get a commercially thought-out recommendation based on the facts, your position, and your long-term future. Our experts have been doing this type of work for decades.
Whichever side of the problem you are on, you’re going to need your sleep. We’ll take over the worrying for you and work out a pathway that will dig you out of any holes that have been created. Contact our team today to ensure that ‘distress’ is as bad as it gets – not disgrace.
For individuals who are facing unmanageable debts after their business has faced financial difficulty, our team can work with your creditors to arrange a personal insolvency agreement. In many circumstances, we are able to assist clients avoid personal bankruptcy. After all, most creditors simply want to arrange a way to get their money back.
We also advise company directors who are being threatened with bankruptcy and are being examined by insolvency firms about their personal wealth and assets.
On the other side of the equation, we act for creditors including commercial banks, lenders, private investors and businesses that provide credit of some form. Because of our work advising company directors being threatened with personal action against them, we are experienced at being able to foresee their next move – which gives us a better chance of getting a positive result for your business.
Our team advises creditors on enforcing guarantees, initiating bankruptcy proceedings and negotiating debt agreements.
Going down the path of personal insolvency is stressful for all stakeholders – including the creditors. Given our work with all the types of parties involved in such an issue, we’re well placed to provide strategic, empathetic but ‘straight’ advice. Contact us today if you’re in need of some assistance navigating this minefield.
The Madgwicks Insolvency & Reconstruction Team has worked with businesses across a large variety of industries to implement corporate restructures when facing financial difficulties. Our experience includes turning around companies who have been in the midst of liquidations and voluntary administration.
Our team fully understands the risks at stake – and they extend well beyond just the financial ramifications of company insolvency. There are personal reputations at stake and employees who rely on their incomes to make ends meet. Therefore, our objective is to minimise losses and work through the options that will allow a business to resolve their problems and continue to trade – in some capacity.
In the instance of a restructure, our team brings in other experts within Madgwicks who can advise on matters relating to corporate governance and compliance, workplace relations and handling redundancies, asset protection and raising enough capital to continue operations.
Should insolvency proceedings begin (or have already started), we work hand-in-hand with company directors that have been threatened with personal bankruptcy and are having their personal wealth and assets examined. We also act for businesses to defend litigation initiated by insolvency practitioners – for example, insolvent trading, breach of duty actions and litigation based on guarantees.
If your business is facing financial difficulties, you need a legal partner that will provide pragmatic advice to get the best out of a bad situation. Contact us today to help you steer the ship in the right direction, negotiate with creditors and regulators and ensure that damage is kept to a minimum and reputations are kept intact.