Bankruptcy and Insolvency Lawyers Melbourne

Goldsmiths Lawyers, an esteemed legal firm based in Melbourne, specialises in providing expert assistance and guidance in all facets of insolvency law. Our highly skilled team of experienced insolvency lawyers is dedicated to assisting individuals and businesses in navigating the intricate landscape of insolvency proceedings.

Insolvency is a challenging and complicated time for any business. With our extensive expertise in insolvency law, Goldsmiths Lawyers serve as your trusted partners in effectively resolving corporate insolvency matters. We offer a comprehensive range of legal services related to insolvency and/or liquidation.

‍Our team can guide you through matters of insolvency administration, voluntary administrations, liquidations, receiverships, and more. We offer a comprehensive overview of the insolvency process, the roles of directors and creditors, as well as alternative options available to financially distressed businesses.

Assisting with Insolvency Matters

We recognise the multifaceted challenges and complexities that individuals and businesses encounter when dealing with insolvency. Whether it pertains to corporate insolvency, personal insolvency, or bankruptcy, our accomplished team of insolvency lawyers possesses the acumen and proficiency to guide you through this intricate process. Committed to delivering exceptional legal services and comprehensive support, Goldsmiths Lawyers ensures our clients receive the utmost assistance and robust representation during this difficult time.

For Individuals

For individuals, Bankruptcy has a number of areas where seeking legal advice is strongly recommended:

Putting a Debtor into bankruptcy: Should a Creditor meet certain requirements, they may petition a court with appropriate jurisdiction to make an order against the estate of the debtor.
Advising on whether to become voluntarily bankrupt: There are some circumstances where voluntarily entering into bankruptcy make be the best outcome for you.
Dealing with a Trustee in Bankruptcy: the property of the bankruptcy will vest in the Trustee in Bankruptcy, with a few exceptions.

Additionally, certain legal claims will vest in the Trustee in Bankruptcy and extend beyond the expiration of the discharge of bankruptcy.
Bringing bankruptcy to an end: There are several ways to bring a bankruptcy to an end, such as an annulment or a discharge of the bankruptcy.

For example, an annulment is to treat the bankruptcy as if the person had never been made bankrupt in the first place.
However, this can have a number of significant consequences, such as reviding the claims against the debtor.
Debt Agreements: An alternative to bankruptcy for low-income debtors provided by Part IX of the Bankruptcy Act 1966 (Cth), Debt Agreements may provide a simple and inexpensive way to assist a debtor.

It is important to seek advice to understand which arrangement and strategy is best for you when dealing with situations in which bankruptcy arises.

For Businesses

In Victoria, insolvent businesses can be put into one of 3 options:

Voluntary Administration: The company’s directors appoint a voluntary administrator to take control of the company in an attempt to save it. If the company cannot be saved, the next step is often liquidation, unless it can be saved by a deed of company arrangement.
Receivership: A receiver can be appointed by a secured creditor during voluntary administration and liquidation to protect the interests and assets of the company's secured creditor(s).
Liquidation: A liquidator is appointed by the company's shareholders, secured creditors or a court to take control of the company, wind up its affairs in an orderly way and fairly distribute assets to creditors.

Goldsmiths Lawyers can assist you through every stage of this process and provide you with expert guidance and legal support tailored to the unique situation of your business.

Our Approach to Insolvency Proceedings

At Goldsmiths Lawyers, we adopt a meticulous and strategic approach when handling insolvency proceedings, encompassing a well-defined process to provide our clients with comprehensive support and pursue optimal outcomes in their insolvency matters.
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Initial Consultation: We commence by conducting a thorough and in-depth consultation, allowing us to gain insights into our client’s unique insolvency situation. This comprehensive understanding enables us to tailor our approach to best suit their specific circumstances.
Analysis and Assessment: Our team of insolvency lawyers conducts a rigorous analysis of the financial and legal aspects of the case. This entails reviewing pertinent documentation, evaluating the financial position of the individual or business, and assessing the viability of available options.
Insolvency Strategy: Based on our meticulous analysis and assessment, we develop a strategic plan customised to our client's distinctive needs. This may entail pursuing a restructuring plan, negotiating with creditors, initiating legal proceedings, or providing guidance on alternative solutions.
Representation and Negotiation: We represent our clients during all negotiations and discussions with creditors, stakeholders, and regulatory bodies. Our team possesses exceptional negotiation skills and strives to secure favourable outcomes while safeguarding our clients' interests.
Litigation and Dispute Resolution: In cases necessitating litigation or dispute resolution, our experienced litigators are adept at handling intricate insolvency-related court proceedings. We provide zealous representation to protect our clients' rights and interests.

Throughout the entire process, we maintain open lines of communication with our clients, ensuring they remain informed of any developments and actively seeking their input. Recognising the emotional and financial impact of insolvency matters, our team is committed to providing compassionate support alongside practical guidance at every step of the journey.

What sort of insolvency advice do you offer?

At Goldsmiths Lawyers, we offer comprehensive insolvency advice encompassing a wide array of areas, including corporate insolvency, personal insolvency, bankruptcy, liquidation, restructuring, and debt recovery. Our expertise enables us to provide strategic guidance, meticulous legal representation, and practical solutions, thereby assisting our clients in navigating these intricate areas of law.

What is the difference between insolvency & bankruptcy?

Insolvency refers to a financial state wherein an individual or business cannot meet its financial obligations. It serves as a broader concept encompassing various forms of financial distress.

On the other hand, bankruptcy is a legal process available to individuals unable to repay their debts. It involves a formal declaration of bankruptcy and the appointment of a trustee tasked with administering the individual's assets and facilitating their distribution among creditors.

What is the difference between liquidation & restructuring?

Liquidation involves the process of selling off a company's assets to repay its debts and winding up its operations. This course of action is often pursued when a company is unable to meet its financial obligations and is no longer able to sustain its operations.

Restructuring entails the reorganisation of a company's operations and financial structure with the aim of enhancing its viability and circumventing liquidation. This may involve renegotiating debts, implementing new business strategies, or effecting changes in management.

Goldsmiths Lawyers ensures that our clients receive the most accurate and up-to-date guidance in their insolvency matters. Contact us today to schedule a consultation with our accomplished team of insolvency lawyers.

Bankruptcy and Insolvency Lawyers Melbourne

Assisting with Insolvency Matters

Goldsmiths Lawyers ‍

Our Approach to Insolvency Proceedings

Our Insolvency Team

Gary Goldsmith

Edward Goldsmith

Goldsmiths Lawyers ‍

What sort of insolvency advice do you offer?

What is the difference between insolvency & bankruptcy?

What is the difference between liquidation & restructuring?

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