Insolvency

Insolvency

Beck Legal’s insolvency and restructuring team acts for creditors (both secured and unsecured), directors, insolvency practitioners and companies both pre and post insolvency. The majority of our insolvency work involves advising liquidators, administrators, managers and trustees in bankruptcy and in doing so we are also in a unique position to advise directors, companies and individuals on how best to mange the dealings with liquidators and trustees to secure the best outcome.

Insolvency and restructuring is all about working with what you have got and coming up with creative, legal and bullet proof solutions to achieve the results you are looking for. Our insolvency team has an in-depth knowledge of the Corporations Act and Personal Property Securities Act, and stays on top of any changes to the insolvency laws and ATO and Court decisions to ensure that we are providing you with the best advice. We are experienced in negotiating with the ATO, banks and creditors, and will let you know our professional recommendations every step of the way. Where possible, we always aim for win-win outcomes so that we can get all stakeholders on side, as we find this tends to help achieve the results you want.

No matter who we are acting for, our approach involves understanding what the most ideal outcome is from your perspective, whether that be avoiding the appointment of a liquidator, maximising returns to creditors, restructuring and turning around the business, clawing back property or taking action against directors. Our insolvency team can then work with you to come up with and execute strategic solutions to facilitate a good outcome.

Our Insolvency and Restructuring Services

Insolvency Practitioners

We advise insolvency practitioners on all aspects of insolvency including:

  1. Administrations;
  2. Clawing back property and payments, including preference payments and uncommercial transactions;
  3. Compliance with the Corporations Act and Personal Property Securities Act;
  4. Secured creditors rights, and the validity of their security;
  5. Priorities claims;
  6. Unsecured creditors rights;
  7. Creditors petitions;
  8. Insolvent trading;
  9. Statutory demands;
  10. Schemes of arrangement;
  11. Negotiating with creditors.

Directors

We advise directors on all aspects of insolvency and turnarounds including:

  1. Strategies on avoiding liquidation, voluntary administration, DOCAs (Deed of Company Arrangement) and other options;
  2. Restructuring;
  3. Personal exposure, and what actions and matters a liquidator will likely pursue;
  4. Directors’ guarantees, preference payments, director loans and uncommercial transactions;
  5. Directors’ penalty notices (DPNs);
  6. Insolvent trading;
  7. Secured creditors;
  8. Managing all creditors;
  9. Negotiating with creditors, including the ATO and financiers; and

Secured Creditors & Unsecured Creditors

We also act for secured creditors, including advising on the validity and enforceability of security, priorities review, appointing receivers, managers and mortgagees in possession, and selling assets.

When we act for unsecured creditors, we will always work with other creditors and the directors and insolvency practitioners involved to attempt to secure the best outcome for you.

Why work with Beck Legal?

Beck Legal understands that insolvency matters are stressful, uncertain and expensive, and they can drag out for years if not managed correctly. Our insolvency and restructuring team will always give you clear advice on their recommendations based on the outcome you are looking for and your risk profile and budget,  including what proactive actions you can take to secure your position, when you should settle or walk away from a claim, or pursue the matter.

For more information about our insolvency services, get in touch today.