It is important to be clear on the difference between Receivership, Administration, Bankruptcy, and Liquidation, and how each may impact creditors.
Anyone in business should be aware of each of these different situations.
Accordingly contact Camden Solicitors and Conveyancers for advice as soon as you receive any documentation regarding these conditions.
If an insolvency practitioner is appointed you should contact Camden Solicitors and Conveyancers for some advice. Getting the timing right is very important. Get the advise early so that you know what your options are is very important.
When debts cannot be paid creditors can make an application to wind up a company. This can happen very quickly.
It is very important to know the difference between:
1: Voluntary Administration;
2: Liquidation;
3: Receivership; and
4: Bankruptcy. Each of these conditions have different consequences upon creditors and the fiscal security of a company.
Lawyers from Camden Solicitors and Conveyancers have successfully represented clients in the Federal Court Of Australia and avoided them going into Liquidation.
Further, we have represented clients through the process of entering into Voluntary Administration based on their situation.
Debt Recovery
If you are owed money or a company or an individual is trying to recover money from you where you may have received a court document contact us. Early advice can often be the difference between a good outcome and a disastrous outcome. Camden Solicitors and Conveyancers has experience is assisting client's where many millions of dollars have been saved and recovered.
