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Strategic & practical insolvency solutions
When you are struggling to stay out of the red in business it’s important to work with a team of lawyers with a solid track record of success in Insolvency matters.
At Aubrey Brown Lawyers, our team of Commercial Lawyers has been delivering successful outcomes for business owners, corporations, creditors and liquidators for decades.
When you are faced with a financial crisis in business, it’s easy to feel overwhelmed and helpless. The sooner you seek professional legal advice from an Insolvency lawyer, the better. We will work closely with Insolvency experts to advise on the best steps moving forward. Likewise, if a customer, supplier or business associate is facing an Insolvency event (eg. Liquidation), we can assist you with protecting your rights as a creditor, including defending preference claims.
What does it mean to be insolvent?
A person or company that is unable to pay their debts on time is considered to be insolvent. To determine if your company is insolvent, a number of factors are carefully assessed, including:
- Availability of cash reserves when debts are due
- Working capital
- Current and expected cash flow
- Access to reliable funding and the ability to borrow
- Assets that may be sold to cover debts
- The option to extend due dates for debts owing
- The reliability of creditors who have money owing
If you are a company owner in New South Wales and you think you may be insolvent based on the above factors, you should contact an Insolvency Lawyer immediately. If your company is deemed to be insolvent, it is actually illegal to continue to operate and incur more debts.
The key is to seek advice early
If you think you may be at risk of becoming insolvent or you think someone who owes you money is at risk, make an appointment to speak to one of our Commercial Lawyers now.
Our Insolvency Lawyer will assist you to identify what action you need to consider.
To help put your business back on track, contact Aubrey Brown Lawyers, the Central Coast leaders in Commercial Law, today.