Insolvency and Bankruptcy Law

At some stage, we will all experience a situation where company, business or individual experiences financial hardship.  Ultimately, and in the worst case scenario a company maybe wound up or a person maybe placed into bankruptcy.

Such winding up and bankruptcy impacts upon both sides to it e.g. company directors may have guaranteed the debts of the company, there could be substantial creditors of the company or becoming a bankrupt may result in person losing their home or it could be creditors of the bankrupt who will not be paid.

If a company or person is experiencing financial hardship they should seek advice from us, their accountant and financial adviser which may result in them avoiding being wound up or becoming a bankrupt.

Creswick Saal Lawyers have developed a good rapport with many administrators and liquidators who can assist on both sides of a winding up or bankruptcy matter. 

It is also important for directors of companies and proprietors of businesses to develop strategies to minimise the risk to their personal assets in the advent that their company or a business experiences financial hardship.