As insolvency solicitors, we regularly assist businesses who are owed money from an insolvent person or company and more who owe money. This is often a complex and sensitive area of law sometimes involving people who are trying to make ends meet in their everyday life.
We can advise you in relation to your legal rights as a company and that of any guarantors.
Where a debtor company is clearly insolvent, our firm has extensive experience in preparing and serving statutory demands requiring the debtor company to pay undisputed debts over $2,500, within the statutory period.
If the company does not meet the amount of the demand, the next step will be to bring an application to wind up the company in the Supreme Court of Victoria or Federal Court of Australia.
On the other side, as bankruptcy and insolvency solicitors we also assist corporate clients who have been served with a statutory demand where the claim is disputed. In this case, clients must be quick in seeking our assistance as a presumption of insolvency and ability to wind-up arises after 21 days of service of a statutory demand.
Sometimes a restructure is possible and sometimes the appointment of an administrator, receiver or liquidator is the answer.
We will provide sound, down to earth legal advice for your company’s situation.
Please call us now on 1300 907 335 or fill out the contact form on this page to contact us.
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