BANKRUPTCY AND INSOLVENCY

Our team has an extensive background in the areas of bankruptcy and insolvency. We act for creditors as well as debtors and have experience in both the Federal Court, Federal Circuit Court and the Supreme Court.

Bankruptcy

If you are considering bankruptcy because you are unable to pay your debts as and when they fall due, we can assist you in negotiations with your creditors, making a part X application or alternatively, if there is no other option available, in declaring yourself bankrupt.

We also have extensive experience in acting for Petitioning creditors in circumstances where your debtors have not complied with a judgment obtained by the Court.

Some of the services we offer include:

  • Debt Recovery
  • Defending claims on non-bankrupt partner’s property
  • Defending Creditor Petitions
  • Discharge of Bankruptcy
  • Entering into Part X Arrangements
  • Issuing Bankruptcy Notices
  • Issuing Creditor’s Petition and Representation in Court
  • Negotiating with Creditors

Insolvency

If your company is experiencing financial difficulties we can assist you with creditor negotiations for more favourable terms, the appointment of an administrator and/or entering into a deed of company arrangement. If all else fails, we can provide advice with respect to the liquidation process.

A company becomes insolvent, when it is unable to pay it’s debts as and when they fall due. Directors trading whilst a company is insolvent may become personally liable for the debts the company incurs if the company trades whilst insolvent.

Our team of experienced lawyers at FourLion Legal can assist you with the following:

  • Negotiating with Creditors;
  • Advising on Statutory Demands
  • Application for Setting Aside Statutory Demand
  • Advising on Deed of Company arrangements
  • Appointment of Administrators
  • Issuing of Statutory Demand
  • Liquidation
  • Representation in Court – with respect to winding up proceedings

We also have extensive experience in acting for Applicants in winding up proceedings in circumstances where your debtors have not complied with a statutory demand and can provide you with Court representation in relation to applications to set aside statutory demands and/or applications to wind up debtor companies.

Advising Liquidators and Trustees in Bankruptcy

Our team is also experienced with providing legal advice to Trustees in bankruptcy and to liquidators with respect to the bankruptcy process and the liquidation process. We offer the following services:

  • Advising trustee in bankruptcy with respect to potential family law claim from non-bankrupt spouse
  • Advising trustee in bankruptcy with respect to potential inheritance claims from the deceased estates of relatives of bankrupt persons
  • Advisory services to trustees, administrators and liquidators
  • Orders for the sale of bankrupt’s property
  • Orders with respect to assessment of the liquidator’s costs

Cases

Our Principal Sam Hemachandra has acted for some lenders, government organisations and small business as well as liquidators and trustees in bankruptcy with respect to Bankruptcy and Insolvency matters.Some of the cases she worked in in the last 10 years include:

1. Williamson, in the matter of Morago Nominees Pty Ltd (in liquidation) [2013] FCA 1240 (21 November 2013)

2. Williamson, in the matter of Morago Nominees PtyLtd (in liquidation) (Unreported) December 2013

3. Low v Tsoutsoulis [2013] FCCA 1115 (22 August 2013)

Please contact us on (08) 9335 6643 or email info@fourlionlegal.com.au should you require assistance. Our team is willing to briefly discuss your matter with you and ensure that we are able to provide you with the right legal advice going forward.