Insolvency professionals

You can meet with one of our highly experienced insolvency professionals for a low fixed price of $330, and you will receive invaluable advice on:

1. The options available to you to clear the decks of debt (and the pros, cons and costs of each option).
2. What you should do now to minimise your personal liability for company debts, and how to avoid being prosecuted by the ATO or ASIC.
3. How to protect your assets for under $5000.

The sooner we get involved, the more that we can do.

Examples of areas that we can advise on include:

1. How to negotiate with the ATO to reduce your tax debt, and secure repayment arrangements.
2. What you should, and should not, say to the ATO and other creditors.
3. The difference between secured and unsecured creditors, and the considerations that you need to work through when prioritising payments.
4. How to guard against being sued personally for insolvent trading.
5. How to preserve the business, its goodwill and your staff.
6. How to recognise and document all of your loans to the company so that the repayment of these loans gets priority over unsecured creditors (in the event of a liquidation).
7. How the GEERS scheme works – noting:
   1. this scheme was set up to ensure that the employees of companies placed into liquidation, were paid even where there insufficient company funds available.
   2. The scheme allows up to $118,000 to be paid towards employee’s wages and entitlements, with the exception of directors, who are entitled to a maximum of $3,500.
   3. This in turn effects how you should deal with wages in the lead up to any liquidation application.
8. How to minimise/avoid being personally liable for company debts given the various deeming provisions under the tax and company legislation.
9. How to ensure all debts are recognised, and how this will help the voting at creditor’s meetings.
10. How and when to dispute debts, including in particular statutory demands and bankruptcy notices.
11. How to get default judgments set aside.
12. How to defeat bankruptcy notices, creditor’s petitions and winding up proceedings.
13. How to cost effectively chase debts owed.
14. The myths and misinformation associated with insolvency professionals (liquidators and administrators), and how to navigate through these.

We have ten hints on what you should do to protect your company and your assets.

These are a good starting point and obviously you need advice which is specifically tailored to your circumstances.