At Taylor insolvency we provide fast effective relief from crippling debt that is hamstringing companies by entering companies into either:-
- Voluntary Administrations
Both solutions provide immediate relief from the company's creditors including:-
- ATO and unpaid taxes
- Trade suppliers
- Bank loans, overdrafts and lines of credit
Where ever possible we will always try to maintain the value of the business and the assist the company in its restructure so all stake holders can move forward with a fresh start.
The director and company are two separate and distinct entities.
Generally speaking the director will not be liable for the debts of the company unless the following has occurred:-
- Director has signed a personal guarantee for the debt.
- Director failed to remedy a Directors Penalty Notice.
- The Director has failed to lodge his BAS within three months of their due date.
Additionally, it is the liquidators job to look at the transactions of the company and determine whether a claim should be made against the director for:-
- Insolvent Trading
- Unreasonable Director Related Transactions
- Preference payments (repayments of director loan accounts)
Often times a Liquidator or pre insolvency person won’t tell you about these issues before signing you up and then three months later hitting you with an enormous claim.
We provide the most effective and efficient informal work outs on the market.
- Obtain lending approvals in the most dire of situations.
- Liaise with outstanding creditors to renegotiate amounts owing to prevent Receiverships / Liquidations
- Obtain immediate funding and pay outs to creditors.
- Assist with safe harbour plan to prevent directors from being exposed to insolvent trading claims.
- Assist with the long term plan to refinance out of the short term loan.
We can also look at the underlying core business and remedy profitability issues to assist in both obtaining funding to fund the restructure and to make the business as attractive as possible for a sale.
We do not have minimum deal or business sized. Many practitioners in the informal work out space look for a minimum size turnover / lend / creditor amount before they will assist. We operate to help those in need even if the numbers involved are small amounts.
Contact us at Taylor Insolvency to talk about the best steps for you and your company to obtain a fresh clean break for a confidential, obligation free chat on (02) 8488 3126.