Insolvency & Restructuring

Sparke Helmore's insolvency team is highly regarded for assisting corporate clients, insolvency practitioners and other professional advisers operate at their best by providing integrated advice and service on issues that may arise when a business is facing financial difficulty or during an insolvency administration.

Our team recognises that often complex and critical decisions need to made quickly in these circumstances.

This requires us to be flexible in providing our services to you, providing detailed analysis where necessary, or practical and pragmatic advice when funds are limited.

We are sensitive to your time pressures, and aim to meet or beat deadlines that we agree with you.

Our expertise

Our lawyers are experienced in acting for insolvency practitioners appointed as receivers, liquidators or administrators across a range of industries, such as mining and resources, property and construction, telecommunications, manufacturing, health and retail.

As well, we have extensive experience in acting for national organisations in relation to corporate debt recovery and enforcement. We use our national presence to co-ordinate an efficient recovery process in all jurisdictions.

Our team specialises in:

Corporate fraud investigation and asset tracing.
Corporate reconstruction and workouts.
Credit risk.
Debt recovery.
Liquidation.
Receivership.
Securities enforcement.
Transmission of business.
Voluntary administration.

Coordinated approach

The insolvency team is also able to draw upon the expertise of other specialist lawyers within the firm across a number of areas which may be relevant to any particular insolvency matter including our Employment, Insurance, Property, Finance, Corporate Services and Planning lawyers.

This includes lawyers with specific experience in issues such as:

the employee issues associated with the transmission of business involving State and Federal systems, Enterprise Bargaining Agreements, Awards and Common Law contracts.
advising in relation to the Occupational Health & Safety Act and legislation concerning environmental and contamination issues.
property transactions.
the sale or restructure of business assets.
advising in relation to planning issues to maximise the potential development possibilities and the ultimate return to creditors.

We recognise the need to often move quickly on an appointment, particularly in relation to employee issues and we are confident that through our team approach and specialist resources we are well placed to provide a responsive and effective service to insolvency practitioners or to companies seeking a work out solution.

Experience

Acting for an insurer in recovery proceedings against a fraudulent financial planning organisation that misappropriated client funds.
Advising corporate and individual clients in relation to examination summonses and notices to produce serve pursuant to the Corporations Act following the administration of a sub contractor company involved in a large contract dispute.
Acting for the receiver and manager of a company involved in the manufacturing, servicing and refurbishment of mining equipment.
Acting for a builder seeking $1m in payment claims for an insolvent developer in relation to Bayside Apartments.
Acting for the liquidator in a claim seeking recovery from the ATO of an alleged preference payment under section 588FE of the Corporations Act. Issues included whether the application of a credit, due to the company as a result of an amended tax assessment, towards an unpaid tax liability meant the company was a party to a "transaction" within the meaning of sections 9 and 588FA of the Corporations Act.
Advising bankruptcy trustees in relation to claims under sections 120, 121 and 122 of the Bankruptcy Act and seeking orders for the vesting of property under section 50 of the Act.
Advising bankruptcy trustees in the recovery of a number of parcels of land alleged to have been transferred at an undervalue and for the purpose of defeating creditors including advising the bankruptcy trustee in relation to proceedings commenced in the Federal Magistrates Court for possession of the land arising from a notice pursuant to section 139ZQ and a certificate pursuant to section 139ZR of the Bankruptcy Act creating a charge.
Acting for the former chief executive and for the chairman of a failed telecommunications company in insolvent trading proceedings brought by the liquidator.
Advising liquidators, receivers and administrators in relation to appointment issues and various aspects of the relevant insolvency administrations.
Successfully bringing an action on behalf of numerous companies pursuant to section 482 of the Corporations Act to terminate the winding up of a company and appointment of the liquidator.
Advising the shareholders and directors of a company which owned a number of retail jewellery stores and working closely with the administrator and the secured creditor to achieve a successful outcome through a Deed of Company Arrangement.