Providing expert insolvency and bankruptcy advice in Sydney.
Butlers Business Lawyers is an insolvency firm in Sydney, long established in providing bankruptcy advice and company liquidation counsel. We offer an exceptional practical ability to help your business recover debts and payments, navigate uncommercial transactions, and develop tight contracts for sale of businesses and other assets. We are lawyers who understand your business needs.
As commercially-minded insolvency lawyers, we are skilled in engaging in more complex areas of insolvency and bankruptcy advice. Whether you wish to pursue a claim of insolvent trading or require advice on how the Personal Property Securities Act 2009 (PPSA) impacts your business, we are able to provide the guidance and speculation you need at crucial moments.
What is Insolvency Law?
Insolvency law plays an important role in balancing the interests of creditors, debtors, and shareholders. It is largely governed by the Corporations Act 2001 (Cth), an extremely lengthy and comprehensive statute that can be difficult to navigate. In combining this with the daunting and sensitive tasks often associated with insolvency matters, the support of an expert legal team can make all the difference.
We advise on your rights with regards to possession, occupation, and liens, and prepare the required documents for administration, liquidation, receivership, or bankruptcy. These are not small nor simple matters, and we set out your rights and responsibilities clearly, while putting you in the best possible position during this demanding time.
What can Butlers Business Lawyers do for you?
Our skilled solicitors can:
- Recover debts and preferential payments
- Seek court orders for liquidation purposes, including receivership and management needs
- Develop contracts and deeds for business and asset sales, bankruptcy, administration, liquidation, and receivership
- Provide advice on liens, occupation, and possession, as well as uncommercial transactions
- Apply the PPSA, and Corporations Act to your circumstances
- Manage claims for insolvent trading
Request A Call Back
Want to talk to a member of our team? Call us on (02) 4929 7002 or please click the Enquire Now button below:
Why choose Butlers Business Lawyers?
As an established insolvency law firm in Sydney, Butlers Business Lawyers confidently and expertly navigates a wide range of issues in this complex area of law on your behalf.
Insolvency Law FAQs
An insolvency lawyer provides support and advice for companies who are facing financial difficulties. If a company director suspects that the company is unable to service its debts, it is important not to hesitate it seeking legal support.
The best practice is for company directors to seek legal support as soon as they become aware that the company is no longer able to services its debts. An insolvency lawyer may be able to assist in negotiating debt agreements or re-negotiating credit contracts.
An insolvency lawyer can still assist! They may guide you through liquidation, administration, or receivership, as well as assist your company in accessing any applicable concessions.
As civil and criminal penalties may apply to insolvent trading, company directors should seek legal support from an insolvency lawyer who is well-versed in the Corporations Act.
While bankruptcy and insolvency are often used interchangeably, bankruptcy applies to individuals and insolvency applies to companies. However, as insolvency lawyers have expertise in financial matters, they are often a good fit for bankruptcy legal support. At Butlers Business Lawyers, we expertly handle both matter types.
Impacts of COVID-19 on Insolvency Law
With the pandemic came installation of measures to protect directors and companies from some consequences of insolvency. Companies that incur normal expenditures and debts in the ordinary course of business are allotted temporary protection against liability for insolvent trading, provided that, with some exceptions, the company does not exceed $1 million in liability. This scheme, Temporary Restructuring Relief, is sought through the Australian Securities and Investments Commission (ASIC) and is intended to provide one-time protection for directors of relatively small companies. As the scheme is only available until 31 March, 2021, inquire with Butlers Business Lawyers today to assist with Temporary Restructuring Relief and applications to ASIC.
“We are long standing clients of Butlers Business Lawyers. As liquidators, we often deal with complex matters require legal intervention. Butlers Business and Law have acted for us in the recovery of debts and payments, and providing legal advice at all stages of the liquidation process. We always know that we can rely on the experienced team at Butlers Business and Law for accurate advice and practical legal solutions.”
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Find out more about our complete range of legal services:
Asset Protection | Blended Wills | Business Structuring | Buying or Selling a Business | Commercial Litigation | Commercial & Retail Leasing | Competition Law | Complex Wills | Contract Law | Debt Recovery | Employment | Estate Planning | Intellectual Property Law | Tax Law