Choosing a registered and accredited insolvency practitioner is an important step – whether you would like to explore early intervention options such as refinancing or reconstruction to resolve a period of financial stress, discuss your options if you or your business has become insolvent, or discover how a restructure can grow your business or leverage an opportunity.
It’s vital to research insolvency practitioners you are considering. To help you select a Registered Liquidator or Bankruptcy Trustee that suits your needs, individual circumstances, business and budget, many of Insolvency Australia’s listed practitioners provide details on their specialty services, expertise and experience, and with their details at your fingertips you can contact them to request further information, including their ‘track record’ of companies and individuals they have previously assisted. As insolvency procedures and restructures can be stressful, it’s important to appoint a practitioner that understands your needs, is a right fit for you and/or your business, and recommends and manages a solution that achieves the best possible outcome.
Put simply, not all insolvency practitioners are created equal and it’s important to know who you are dealing with before you hand over control of your personal financial affairs or your company, its assets, stakeholders and creditors.
Currently in Australia there are fewer than 648 Registered Liquidators and 200 Bankruptcy Trustees who are subject to a code of ethics, standards, rules, ongoing competency requirements, reviews and a disciplinary process. In fact, a Liquidator must be registered to be appointed to any type of insolvent external administration.
Seeking advice from a Registered Bankruptcy Trustee or Insolvency Practitioner early can result in having more options, which can lead to a better outcome.
Ask Questions:
Regardless of whether you need a corporate or personal insolvency solution, it’s likely to be quite a stressful and challenging time. That’s why it’s so important that you trust the insolvency practitioner that you appoint, as it’s possible you will be required to work with them for a period of time. Make sure you’re comfortable with them before you appoint them. Many will offer a free, obligation-free consultation, which is a good first step to ask your questions and determine if they’re the right fit.
Insolvency Australia makes it easy and convenient to find, compare and contact Insolvency Practitioners, Bankruptcy Trustees, and insolvency lawyers anytime, anywhere.
You can search for a practitioner by specialisation, services, industry sectors, suburb or region and contact details are provided for all listed insolvency practitioners. Featured practitioners appear first on any search list and many provide additional information on their services and links to their websites. Connecting with them is easy too, with options including email, a request for a call back or a Zoom call.
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