Practical, commercially-minded advice on corporate and personal insolvency. We help directors, creditors and individuals navigate financial distress and protect what can be protected.
Insolvency advice with legal and accounting insight.
When a business faces financial pressure, directors need more than general legal advice. They need clear, commercially grounded guidance that considers the law, the numbers, creditor exposure and the practical steps needed to protect value and preserve options.
Our insolvency practice is led by an experienced insolvency lawyer, Ashley Cronin, who is also a Chartered Accountant, a combination that remains uncommon in Australia. This dual qualification provides a valuable perspective for directors, business owners, creditors and insolvency practitioners dealing with distressed businesses, restructuring opportunities and formal insolvency processes.
Insolvency issues are rarely just legal issues. They involve cash flow, financial records, tax obligations, creditor priorities, asset values, trading decisions, director duties and the viability of the underlying business. Having advice from a lawyer who also understands financial statements, management accounts, solvency analysis and the commercial realities of business can make a meaningful difference when decisions need to be made quickly.
Early advice is often critical.
We assist directors and companies at every stage of financial distress, from early warning signs through to formal appointments. A business experiencing ATO arrears, supplier pressure, overdue finance obligations, unpaid superannuation, cash-flow constraints or threatened legal action may still have options. The earlier directors obtain advice, the greater the prospect of preserving the business, protecting value and avoiding unnecessary personal exposure.
Directors have significant duties when a company may be insolvent or approaching insolvency. Continuing to trade without a clear strategy can expose directors to personal liability. However, the safe harbour regime may provide protection where directors are developing and taking a course of action that is reasonably likely to lead to a better outcome for the company than immediate administration or liquidation.
We advise directors on practical safe harbour strategies, including:
Assessing the company's financial position and solvency
Preparing and documenting turnaround or restructuring plans
Engaging appropriately qualified advisers
Improving financial reporting and cash-flow forecasting
Managing employee entitlements and taxation obligations
Negotiating with financiers, suppliers, landlords and other creditors
Safe harbour is not a "do nothing" solution. It requires active, informed and well-documented steps. We help directors understand what is required and establish a strategy that is commercially sensible and legally robust.
For eligible companies, the small business restructuring process can offer a practical pathway to deal with debt while directors remain in control of the business. It may allow a viable business to compromise debts with creditors, preserve operations and emerge with a more sustainable balance sheet. We assist with eligibility assessments, creditor issues, restructuring proposals, director obligations and the management of secured creditors, employees and the ATO. Our accounting background allows us to engage closely with the financial information underpinning the process, rather than treating the numbers as an afterthought.
In some circumstances, a voluntary administration or liquidation may be the most appropriate strategic option. A formal appointment can provide an orderly framework to manage creditor pressure, investigate a sale or recapitalisation, preserve assets, or bring a difficult trading position to an end. We advise on and assist with appointments, including as part of a strategic restructure, a sale process, a dispute with creditors or a response to escalating ATO enforcement action, working alongside insolvency practitioners, directors and accountants.
Creditor pressure can quickly become disruptive. Statutory demands, winding-up applications, garnishee notices, director penalty notices, payment-plan issues and aggressive recovery action can place directors under significant pressure. We provide prompt, practical advice on responding to creditor claims and dealing with the ATO, while keeping the broader commercial objective in focus.
Whether the goal is to save the business or bring its affairs to an orderly conclusion, we provide clear advice when certainty matters most.
That may mean restructuring debt, negotiating with creditors, selling assets, appointing an administrator, or winding the company up in an orderly way. If your company is under financial pressure, early advice can preserve options.
