Insolvency & reconstruction

Introduction

Insolvency procedures affect companies that are unable to pay their debts when they fall due for payment.

Procedures may include liquidation, receivership or voluntary administration.

Issues which may occur in this area of legal practice include:

• Bankruptcy, liquidation, receivership, voluntary administration
   
• Appointments of liquidators, receivers and trustees
   
• Refinances
   
• Employment issues
   
• Breaches of director duties
   
• The sale of businesses and properties
   

At the bottom of this profile are brief details of a number of the experts that Expert Experts represents. Call our office to discuss your requirements and to obtain a recommendation that suits your needs and budget.

What Expert Evidence

Expert opinion may be required in insolvency and reconstruction matters for valuations of insolvent company assets such as shares.

Forensic accounting experts may provide investigations into why insolvency occurred, especially in cases of white collar crime where directors are accused of breaching their duties.

Sample Reports

For some fields of expertise we have some sample sections of de-identified reports. Please contact our office if you are interested in a sample.

Cost

The overall cost of expert opinion depends on the services required. Some of the key factors that affect the cost of advice include:

• The need for a view or inspection of a location
• The quantity of documentary material to be reviewed
• Whether there are reports of other experts to be reviewed and commented on in detail
• Whether there is a need for conferences with the expert either in person or by telephone/Skype

Relevant Articles Insolvency – Australian Securities and Investments Commission

Resources on insolvency for directors, practitioners, employees, creditors and investors

Relevant Cases Australian Securities and Investments Commission v Rich [2009] NSWSC 1229

“Thus, in modern litigation forensic accounting evidence is admitted to assist, not only in determining the state of insolvency of the company at the particular time…but in a variety of other broadly similar financial tasks”