Bankruptcy & Insolvency

Bankruptcy & Insolvency 2017-10-28T19:28:32+00:00

Parke Lawyers specialises in insolvency and bankruptcy in Australia, providing appropriate, practical and cost­-effective solution to your needs. Bankruptcy and insolvency are inevitable in any modern economy and can be encountered by businesses and individuals in both good and bad economic times. The law in this area continues to undergo review and it is important to get the right advice from experienced practitioners.

At Parke Lawyers we handle a variety of client situations, including personal bankruptcy and company liquidations. Parke Lawyers is also able to assist in:

  • advising companies seeking to avoid being wound up or individuals seeking to avoid bankruptcy
  • issuing bankruptcy notices or statutory demands
  • bankrupting debtors winding up companies
  • recovering monies for the benefit of creditors
  • advising on employee entitlements
  • advising on alternatives to bankruptcy or liquidation

Types of Insolvency

There are different types of insolvency and the most common ones include liquidation, receivership and voluntary administration.  Where it is not practically possible to save a business, the best possible way to go forward is with a voluntary administration.  Company liquidations allow for a qualified, independent person to ensure the company is wound up in an orderly manner.  A company may be placed into receivership when a receiver is appointed by a creditor exercising a security over the assets of the company.

Personal Bankruptcy

Personal bankruptcy should be your last resort, and our lawyers will work with you to find alternative solutions to your financial problems. There are alternative debt solutions available and you should know what your options are before you make a decision to declare yourself bankrupt.

When someone is declared bankrupt, the person won’t have to deal with his or her creditors anymore. A trustee will be appointed to organise the sale of the person’s property to allow some of the money to go to the creditors. The trustee can also investigate the person’s conduct before he or she became bankrupt, to assess whether any transactions can be set aside.

Parke Lawyers has extensive knowledge and practical experience in a wide variety of legal practice areas. Our expert insolvency lawyers provide reliable legal advice to businesses and individuals to assist them with any bankruptcy and insolvency issues they may be facing.

With a solid track record of success and representing a wide range of clients affected by bankruptcy and insolvency, our team of bankruptcy and insolvency lawyers are ready to provide you with the legal guidance and representation you need.

For more information about our bankruptcy and insolvency services, please don’t hesitate to contact us.

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