Insolvency events are becoming increasingly complex, fluid and stressful occurrences. While they present many challenges, they can sometimes provide unique opportunities for our clients to acquire assets or resolve problems.
HopgoodGanim's specialist Insolvency team, part of our large and experienced Litigation and Dispute Resolution practice, is committed to providing our clients with outstanding value and the highest standard of service. We work both with and against insolvency practitioners, business organisations and individuals to formulate and implement strategies to achieve the best possible outcomes for our clients.
Our Insolvency specialists deliver exceptional technical expertise for our clients. They take a practical, commercial approach to insolvency situations, responding quickly and with tenacity to achieve outstanding results.
We act in both litigious and non litigious insolvency matters, working closely with other specialists from within HopgoodGanim to ensure that all aspects of the matter are carried out by the right people.
Areas of Expertise
- Assisting receivers appointed by banks and other secured creditors to achieve the maximum recovery as quickly as possible.
- Assisting liquidators, administrators and bankruptcy trustees to achieve the best possible outcomes for unsecured creditors.
- Advising creditors, directors, landlords, tenants and others who face insolvency issues in their commercial dealings.
- Helping distressed business organisations and individuals to deal with their situation and manage their difficulties in the best possible way.
Our Experience
-
Acting for the directors of Queensland's largest concrete pumping business to successfully implement a workout through a Deed of Company Arrangement and refinance. The workout saved 80 jobs and prevented financiers writing off around $8 million in debt. This was recognised as one of Australia's most successful business turnarounds for 2009 by the Turnaround Management Association of Australia.
-
Acting on an ongoing basis for RE Murphy & Co, the deed administrators of the Superwoman Group of Companies, in negotiating and effecting the terms of a Deed of Company Arrangement that has facilitated the sale of the company's financial advisory business. The sale meant that secured and unsecured creditors, who were owed more than $2 million, received a dividend of 100 cents in the dollar.
-
Advising on all aspects of the liquidation of General Insurance Brokers, a general and life insurance broking business, including conducting a public examination into the affairs of the company in an attempt to trace missing funds.
-
Acting for KordaMentha, the liquidators of BT Projects, to pursue the recovery of debts in excess of $100 million owed to the company.
-
Acting for PA Lucas & Co, the administrator and then deed administrator of Shawsportz, a group of companies which operated sporting facilities across Brisbane, to successfully negotiate and implement a workout through a Deed of Company Arrangement. This resulted in the continued operation of the business by the Brisbane City Council, and the sale of its licensed sporting club business.
-
Acting for the secured creditors, Fortress Credit Corporation and First Pacific Mortgage Fund, in effecting the mortgagee sale of a large beachfront development site in Surfers Paradise for a price exceeding $80 million.
