Corporate insolvency is part and parcel of the business landscape.
You are not the first to be liquidating a company and you will certainly not be the last.
A business in the process of becoming insolvent can be a slow burn, but the bonfire is inevitable in many cases.
Obligations continue to accumulate, creditors become unsettled, tax debts increase and all this leads to a compounding of the situation.
InSolve Partners provides you not only clarity on the situation you are in, but also help to preserve your existing commercial contacts so a working relationship can be formed again in the future.
Remember, directors have legal obligations to not allow a company to put creditors at substantial risk or loss.
Becoming insolvent or claiming bankruptcy can have serious long term consequences for the future of your business career and should not be taken lightly.
Especially in a small community like New Zealand, memories are long and trust is hard to restore.
We are here to help you make the best of the situation and minimise the damage.
You can appoint us as the liquidator.
Put simply, a company is insolvent if it cannot meet its financial obligations as they fall due and there is no capital available to inject into the company.
We take the time with you at the outset to really understand your situation.
We assess what needs to be addressed urgently and build a plan and strategy around your situation and all the moving parts.
This simplifies your situation, and resolution from that point can be quick and relatively straightforward.
Once appointed as liquidator, we will effectively take control of the company (yes, your phone will stop ringing).
From that point on, we will deal with all aspects of the company as well as creditors and debtors so as to orchestrate an orderly wind up of your commercial affairs whilst preserving and maximising the value of any assets that are left in the company.
As liquidator, we are acting in the best interests of all creditors and asset realisation is our focus at this point.
Get in touch with us today to discuss your insolvency matter by clicking the button below:
If your business is struggling with financial issues like cash flow problems, increasing debts, or pressure from creditors, it can feel like you’re in a tough spot.
It’s important to address these issues head-on. Ignoring the signs of financial distress can lead to more severe outcomes with long term consequences, such as bankruptcy.
We can assist you in evaluating your financial situation accurately and explore all possible solutions, such as voluntary arrangements or selling assets.
Facing financial challenges? Our restructuring services can help your business get back on track.
We work to improve your operations and finances, aiming to increase your profits. By negotiating better payment terms with your creditors and potentially obtaining debt forgiveness, we can address critical issues like cash flow problems and declining sales.
Our approach focuses on finding ways to cut costs and discover new revenue opportunities, setting your business up for long-term success.
Our administration services might be the solution your business needs if you are facing financial challenges.
By working with us to appoint an administrator, you can get a break from the pressures of creditors. This allows you time to rethink and reorganise your business strategy.
Our administrators will help restructure your operations and manage your assets with the goal of saving jobs and paying off debts.
With our help, your business could emerge stronger and with better terms from creditors.
We specialise in guiding businesses through the liquidation process. Our experienced liquidators will handle the sale of your assets, make sure everything is done according to insolvency law, and ensure that your creditors’ claims are dealt with fairly.
Sometimes, you have no other choice but to declare bankruptcy.
We guide you through the bankruptcy process, helping you understand court requirements and your rights. Filing for bankruptcy can be a critical step towards regaining your financial stability, allowing you to move forward without the burden of debt that seems impossible to overcome.
We will help you navigate this challenging time, providing the support and expertise you need.
We specialise in helping you navigate through financial disputes, particularly when insolvency is involved.
Our mediation services are designed to effectively tackle conflicts related to questionable transactions and how assets are divided.
Our experienced mediators lead discussions that steer clear of expensive court battles, helping you resolve the dispute in the most efficient and effective way possible.
If your business is dealing with receivership, we’re here to help.
Our team provides expert guidance to handle these tough situations. When a receiver is involved, you can count on us to manage your assets and handle negotiations effectively.
We aim to recover debts and protect the value of your company, making sure that everyone’s interests are looked after and fairly represented.
Have a debt you are trying to recover?
We specialise in debt collection & recovery, helping businesses and individuals reclaim outstanding debts efficiently and effectively.
We provide tailored legal strategies to recover debts from insolvent individuals or companies, whether through negotiation, legal action, or enforcement.
Our team ensures that you navigate the debt recovery process with confidence, minimising financial losses and maximising the chance of successful recovery.
Whether you’re a creditor dealing with unpaid invoices or seeking to recover significant sums, we are here to protect your interests and resolve your debt issues swiftly.
We assist investors in navigating the complexities of the insolvency process, ensuring that their rights and interests are protected.
Our experienced insolvency specialists provide strategic advice on how to recover investments, claim dividends, or negotiate settlements during insolvency proceedings.
Whether you’re dealing with a distressed company or need guidance on protecting your financial interests, we work diligently to secure the best possible outcome for investors. We are committed to helping you understand your options and maximising your recovery in insolvency situations.
We offer dedicated support to company directors facing the challenges of insolvency.
We provide expert advice on your legal duties and help you navigate complex insolvency procedures while minimising personal liability risks.
Whether you’re considering restructuring options or need guidance through liquidation, our team ensures you remain compliant with legal obligations while protecting your interests.
With our strategic counsel, we aim to help directors make informed decisions and find the best solutions for managing financial difficulties and corporate insolvency.
We help creditors navigate the insolvency process to recover outstanding debts efficiently.
Our experienced insolvency specialists provide strategic advice and representation to ensure your rights are protected when dealing with insolvent individuals or businesses.
From filing claims to negotiating settlements or pursuing legal action, we work diligently to maximise your recovery and minimise financial losses.
Whether you’re a secured or unsecured creditor, we offer tailored solutions to help you get the best outcome in complex insolvency situations.
We assist shareholders in the insolvency process, ensuring their interests are represented and protected.
Our skilled insolvency lawyers provide guidance on how insolvency impacts shareholder rights and help you understand your options in restructuring or liquidation scenarios.
We work to maximise your position during insolvency proceedings, whether through negotiations, dividend claims, or exploring recovery opportunities.
With our expert legal support, we help shareholders make informed decisions and mitigate potential financial losses in an insolvency situation.
We provide compassionate and expert legal support for individuals facing insolvency.
Our experienced lawyers guide you through the available options, whether it’s negotiating with creditors, entering into a debt repayment plan, or pursuing personal bankruptcy.
We help you understand your rights and obligations while offering tailored solutions to ease the financial pressure and protect your assets where possible.
With our clear advice and strategic approach, we aim to help you regain control of your finances and work toward a fresh start.
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Insolvency occurs when a person or business is unable to pay their debts as they fall due. It can lead to various legal proceedings to manage debt or liquidate assets.
Restructuring insolvency refers to the process of reorganizing a company’s debts and operations to help it recover from financial distress and avoid liquidation. The goal of restructuring is to make the company more financially viable, often through negotiating new terms with creditors, reducing debt, or implementing a new business strategy. This can include methods like appointing voluntary administrators, creditor compromises, or debt rescheduling.
Liquidation involves winding up a company and selling its assets to pay creditors, while receivership is when a receiver is appointed to manage or sell company assets on behalf of secured creditors.
Yes, options like voluntary administration or restructuring can sometimes avoid liquidation by negotiating repayment plans or refinancing debt.
Voluntary administration is a process where an external administrator is appointed to assess the company’s financial situation and explore options to restructure or sell the business.
Insolvency litigation involves legal disputes that arise during or as a result of the insolvency process, such as challenges to the validity of debts, recovery of assets, or claims against directors for misconduct like reckless trading. It often requires specialized legal intervention to resolve these issues and protect the interests of creditors, shareholders, or the insolvent party.
Secured creditors, such as banks, are usually paid first, followed by preferential creditors (e.g., employees), and finally unsecured creditors.
Employees are typically made redundant, and their owed wages and entitlements are considered preferential claims, meaning they are paid after secured creditors but before unsecured creditors.
Generally, directors are not personally liable unless they have given personal guarantees or acted unlawfully, such as trading while insolvent.
A creditor’s compromise is an arrangement between a company and its creditors to settle debts by paying a portion of what is owed over time, helping the company avoid liquidation.
Trading while insolvent means continuing to operate and incur debt when a company cannot pay its current obligations. This is considered “reckless trading”, is illegal and can result in personal liability for directors.
The liquidation process can take months to years, depending on the complexity of the company’s affairs, asset sales, and resolving disputes with creditors.
Time really is of the essence.
If you owe money, are owed money, are facing insolvency or have any questions, queries or concerns about your business – then please contact us directly by filling out the form below.
We uphold the highest standards of confidentiality and your information and situation will be treated as such.
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