Insolvency + Bankruptcy Advice
Solutions to move forward.
Insolvency + Bankruptcy Advice
Finding independent and honest advice can be hard in this space, we are here to help you through the process. We understand that this is a hard process and that the information is often complicate or worse not accurate.
We will explain your options, whether it is an act of insolvency, a trade out, restructure of your business or strategic negotiation and make sure that you understand what is available and how this will impact your situation.
We will make that you are well informed of your options, that you have the information that you need not only to manage the immediate issue but ensure that you are able to get back on your feet as soon as possible.
Insolvency Advice
We are not liquidators but work with them to get the best result that we can for your business. Our advice generally will include exploring insolvency options where trade out or restructure are not appropriate.
We offer a strategic review meeting to understand what is happening in your business, and to explore the options that are available to you.
We understand that often time is limited and that you may be facing pressure, in this environment we offer a 48 hour turnaround, as well as being available over the weekends and outside of normal business hours to discuss your options.
We will explore all the options that are available for your business, if this means that you need to have an insolvent event, we will help you through the process, to make sure that you are not facing it alone.
chart for businesses as part of our ongoing advisory services, for businesses that are looking for a change in direction, this simple business plan will help you keep accountable.
For all businesses that we work with, we undertake the business planning process as part of our standard engagement. This is a core component of working with us. Our business plan will be the benchmark to understand both you and your business, and what you are looking to achieve.
Take the first step and contact Pete for a discussion about getting a business plan underway.
Understanding The Situation
If you are facing business difficulties you may be beginning to hear a new batch of words and phrases, DOCA, 21 day notice, wind up or insolvency become common place, for many business owners there is a lot of miscommunication and less understanding.
We are here to help. We will assist you in understanding that the situation is with your business and what is happening from external stakeholders. You may be facing increased pressure from creditor or the ATO and need to understand what this all means.
Facing this circumstance is hard and for business owners there are times that you may feel isolated, we will help you through this, not only understanding the situation but also what you are facing in terms of the communication that you are receiving.
We will review the documentation you have received, map out what the key deadlines are and what the impact of each is, as well as cutting through the bluff to give you a clear understanding of what the next steps may look like.
Understanding Your Options
For businesses that are facing cash flow or viability pressure it is important to understand your options and how they are going to impact you. We understand that most of the information available is limited to one option, and in our experience it is vital to understand all the options that you have available.
Firstly, some businesses may simply be unable to survive, and for these we will help you through the process of departing your business. We handle this with empathy and understanding and will make sure you are best protected through this process.
We will explain each option, the cost, risks and benefits of each as well as working with you to develop a long term viability plan to ensure that should your business be able to trade on, that it does so with the tools to succeed.
For businesses that have the capacity to trade out or restructure we will work with you to manage this approach, including providing guidance as to the mitigation of risk, communicating with stakeholders and making sure that you are well informed and that the process runs as smoothly as practical. Our role is to explain each part of the process, how it will occur and what to expect, at each step being there to give you an explanation and guidance.
Liquidation Planning
The best liquidations or administrations are those that are well planned, with clear outcomes and concise communications, this is where we help. For businesses where liquidation will be the best outcome we will assist you in the all stages of the process, standing in where necessary to facilitate a seamless process for you as the business owner.
We understand that the process is likely to be stressful and we will assist you in communicating throughout the process, finding the right team for you to work through the process and ensuring that you are not alone as you working through the liquidation process.
Our liquidation planning will include preparing for the upcoming insolvency event, whether this is preparing your compliance documentation, engaging solicitors, accountants or liquidators, preparing messaging and communication and ensuring that you understand the process that your business will be facing.
If you are considering liquidation or want to understand the impact of liquidation reach out to the team for a complimentary discussion.
Bankruptcy
Often the last consideration for business owners, for some it may be a more practical option than continuing to trade in a business with limited long term prospects. All too often we hear, I wish that I did it sooner, where it is appropriate, it is a solution to managing business difficulties.
Bankruptcy is not the end of the world, and for a lot of business owners, this process may be more suitable than the alternatives, where it is appropriate we are here to help.
We can walk you through the bankruptcy process, what it will involve and ultimately ensuring that the process achieves a better solution than the alternatives. We will assist you in understand what bankruptcy is, how it will impact you, what limits you will face and how to manage through the process of bankruptcy from a practical perspective.
Whilst it is usually the last option, where you face this as a necessity we will make sure that you do not face it alone, that you are not entering into it with no information and that the entry process is carefully managed to mitigate the stress of the situation.