Corporate Insolvency
Roser Lawyers regularly acts for Australia’s leading insolvency practitioners on a range of corporate insolvency matters. We also act for directors of companies, secured creditors and unsecured creditors. Roser Lawyers specialises in uncommercial transactions, insolvent trading claims and unfair preference recoveries. We are cost effective and add value to liquidations.
By having a results driven, outcomes-based approach, Roser Lawyers is able to obtain outcomes quickly for our valued customers.
In accordance with section 95A of the Corporations Act 2001 (Cth) the solvency of a company is defined by the company’s ability to pay its debts as and when they become due and payable. In the event a company is not solvent it is insolvent. When a company becomes insolvent in accordance with the Corporations Act it is unable to pay its debts as and when they become due.
There are a range of formal insolvency arrangements where Roser Lawyers regularly advises insolvency practitioners. Formal corporate insolvency arrangements include;
- Advising Receivers and Managers for secured lenders;
- Advising Liquidators;
- Advising Voluntary Administrators
The three broad categories of Corporate Insolvency have different objectives in accordance with the Corporations Act 2001.
Receivers and Managers
A receiver and manager appointment is made by a secured creditor appointing an insolvency practitioner in order to realise the company’s assets for the benefit of the secured creditor.
Voluntary Administration
In an involuntary administration process the company will attempt to administer the estate of a company to maximise the chance of the company or as much as possible of its business continuing existence or if it is not possible for the company or business to continue an existence results in a better return for the company’s creditors and members than would result from an immediate winding up of a company.
Liquidation
The final formal corporate insolvency appointment is the liquidation of a company. In a liquidation scenario the liquidator is appointed to the company’s assets and is appointed over the company’s assets to sell the assets for the benefit of the creditors.
Roser Lawyers is regularly engaged by Australia’s leading insolvency practitioners, who are well versed and have extensive experience in all three-formal corporate insolvency appointments.
For further information in relation to formal corporate insolvency including recovery actions of liquidators please click on these tabs.
Should you have a matter concerning Corporate Insolvency, do not hesitate to contact our office for a confidential discussion.