Insolvency & Restructuring
We’ve got your back when the chips are down.
Despite the very best efforts, sometimes the difficult decision has to be made that a business is facing insolvency. Whether you are the company director or the appointed external administrator, you’ll want to turn to a team with the knowledge and dedication to help navigate this challenging journey.
The Redchip Litigation team appreciates that there are crucial decisions to be made quickly during any insolvency, and that those decisions have serious implications for everyone involved. Our role is to reduce the complexity and remove obstacles to decision-making so our clients are armed with the right advice that takes into account both commercial and legal impacts.
We advise on all sides of insolvency matters and have experience acting for:
- Company directors prior to and during the period of the external administration regarding any advice relating to their personal liability or other matters
- Creditors in dealing with the insolvent entity
- External administrators such as liquidators, voluntary administrators and receivers in advising in relation to their duties, powers and responsibilities, as well as any action available to them in relation to the company – for example public examination, actions against directors, related parties and recovery of debts
We also advise in relation to personal insolvency and act for trustees in bankruptcy on most matters under the Bankruptcy Act, as well as debtors, for example defending s139ZQ notices and preferential payment claims.
Redchip’s insolvency services include:
- Acting for creditors in the Supreme and District Court against liquidators for uncommercial transactions, voidable transactions
- Acting for and against liquidators in actions against directors for insolvent trading
- Validation of administrators’ and liquidators’ appointment
- Appointment of provisional liquidators
- Applications for approval of remuneration
- Deregistration of companies and release of liquidators
- Conducting public examination
- Acting for directors of companies in proposing a deed of company arrangement
- Advising directors of their duties under the Corporations Act
Our team of specialists bring a wealth of experience to bear, and a deep familiarity with the commercial requirements inherent in any insolvency matter.
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At Redchip, people often tell us that we don’t seem like lawyers. We make a point to have real conversations with our clients in everyday language. Because we know that success is built on relationships.