Insolvency
Propel
your
future
Delivering expertise in uncertain times
That’s why it’s important to seek out knowledgeable, experienced and impartial advice at the first hint of trouble, so that you can explore your options, and take action.
Empathy, insight and experience
Our insolvency specialists have a proven track record of providing specialist recovery and insolvency solutions to individuals and businesses of all shapes, sizes, industries and locations across Australia. They’re experts at identifying what needs to be done, by whom and by when – working in conjunction with key stakeholders to achieve the best outcome for all stakeholders.
We offer a full range of services to assist businesses experiencing difficult times.
Corporate insolvency
It is extremely stressful for business owners when they are unable to pay their debts. We offer the following services to ease the pressure so the owners can move forward:
Voluntary administration
A voluntary administration aims to maximise the chance of a company continuing to exist. An insolvency practitioner is appointed to manage and investigate the company's affairs, then report and make recommendations to creditors, who decide what the next steps for the business will be.
Small business restructuring
Small business restructuring allows eligible companies to compromise their debts, with their creditors' agreement, to maximise the chances of the company to continue trading.
If you’re an eligible small business and owe less than $1 million to creditors, a small business restructure may be the way to go. Timing is tight, and rules are strict, which is why you need the assistance of a PKF restructuring practitioner. With an accepted plan in place, you can look to the future with confidence.
Creditors' voluntary liquidation
Initiated by the company itself, voluntary liquidation is a pro-active move where an insolvency practitioner is appointed to liquidate the company, by selling its assets to raise funds and repay its debts.
Simplified liquidation
An eligible company in a creditors voluntary liquidation may follow a simplified liquidation process, which aims to provide a more cost-effective option with lower reporting and investigation requirements.
Receivership
When a company’s continuation may be an option, a secured creditor or court puts a company under the governance of a ‘receiver’ – an independent insolvency practitioner with authority to control part or all a company's assets.
Personal insolvency
We know that personal insolvency or bankruptcy can bring huge social, family, financial and emotional pressures. It’s why our team takes extra care to provide compassion and understanding in uncertain and challenging times, and help make the process as smooth and easy as possible.
We offer the following services to help individuals move forward:
Bankruptcy
Bankruptcy is an insolvency procedure that’s applied to an individual, not a company. It arises when someone is unable to meet all their financial responsibilities, and a bankruptcy trustee is appointed to deal with the person’s assets to meet the demands of their creditors.
Personal insolvency agreement
In many cases, a person may be able to enter into a legally binding agreement that provides a more flexible way to settle debts and avoid bankruptcy.
Debt agreement
A more informal approach may be available through a debt agreement that provides eligible individuals with a practical alternative to bankruptcy.
