Marino Law’s Gold Coast insolvency lawyers have specialised expertise in all areas of personal and corporate insolvency law, including the following:
Personal Pre Insolvency Advice
It is imperative that anyone experiencing financial hardship immediately seek urgent professional pre insolvency legal advice to avoid or minimise the consequences that may follow from being made bankrupt. Our team of highly qualified insolvency solicitors can provide you with strategic…
Advice during Bankruptcy
Our experienced bankruptcy lawyers can provide you with advice and assistance concerning: a person’s rights and obligations during bankruptcy; a person’s rights and obligations after bankruptcy; early release of an individual from bankruptcy…
Debt Agreements (Part IX)
A debt agreement is a binding agreement under Part IX of the Bankruptcy Act 1966 (Cth)) between a debtor and their creditors where creditors agree to accept a sum of money which the debtor can afford. Proposing a debt agreement is an act of bankruptcy.
Personal Insolvency Agreements (Part X)
A personal insolvency agreement (PIA) is a legally binding arrangement between a debtor and his or her creditors whereby the debtor offers to pay creditors in full or part by instalments or a lump sum. Unlike a debt agreement, there are no debt, asset or income limits to be eligible to propose a PIA.
Annulment of Bankruptcy
An annulment of bankruptcy, unlike a discharge of your bankruptcy, is effectively the cancellation of a bankruptcy. There are three ways a bankruptcy may be annulled…
Corporate Pre Insolvency Advice
Our team of experienced corporate insolvency lawyers pride themselves on providing practical advice and strategic solutions to not only company’s facing corporate insolvency, but to directors, shareholders and creditors who may also be affected.
Deed of Company Arrangement
A Deed of Company Arrangement (otherwise known as a DOCA) is a binding arrangement between a company and its creditors which facilitates a company’s recovery to a position of solvency and allows that company the opportunity to continue its corporate existence.
Scheme of Company Arrangement
A Scheme of Arrangement is a Court approved compromise or arrangement entered into between a company and its creditors or members. A Scheme of Arrangement has similar objectives to a Deed of Company Arrangement, but it is more complex and may be used by both solvent and insolvent companies.
Voluntary administration is a process designed to assist insolvent companies satisfy their debts by ensuring that they can either: come to a formal arrangement with their creditors to pay those debts, or are quickly and inexpensively placed into liquidation…
A liquidation is the orderly winding up of a company’s affairs. The three types of liquidation are: Court ordered; creditors’ voluntary; members’ voluntary. Court ordered liquidation starts as a result of a Court order, made after an application to the Court, usually by a creditor of the company.
The Court may appoint an official liquidator provisionally at any time after the filing of a winding up application. The purpose of the appointment of a provisional liquidator is to preserve the assets of a company until the Court hears the winding up application and decides whether or not to appoint a liquidator.
Members Voluntary Winding Up
A members voluntary liquidation is the process whereby members wind up a solvent company. A company is usually considered solvent if it can pay all of its debts as and when they fall due. The directors will resolve to call a meeting of the members to wind up the company.
Receivers and Managers
A company goes into receivership when an independent and suitably qualified person (the receiver) is appointed by a secured creditor, or in special circumstances by the Court, to take control of some or all of the company’s assets. The charge, or security, held by the secured creditor under which the appointment of a receiver
Insolvent trading occurs when a director allows a company to incur debt at a time when the company is insolvent. If the director incurs a debt without reasonable prospect of being able to repay the debt, the director can become liable to compensate the company or its creditors for those further debts.
Dealing with the Australian Tax Office can be a daunting experience for the inexperienced. Our solicitors have the expertise to provide advice in respect of: objections to assessments and amended assessments; applications to the Administrative Appeals Tribunal…
Directors Penalty Notice
Company directors have a legal responsibility to ensure that their company meets its pay as you go (PAYG) withholding and superannuation guarantee charge (SGC) obligations. The director of a company that fails to meet a PAYG withholding or SGC liability by the due date automatically
Corporate Insolvency Litigation
Our team of insolvency litigation solicitors have a wealth of experience in all areas of insolvency related litigation. Some of the areas we practice in include: acting for a creditor seeking an order to wind up a company; acting for a company to set aside a creditors statutory demand…
Personal Insolvency Litigation
Our team of insolvency litigation solicitors have a wealth of experience in all areas of insolvency related litigation. Some of the areas we practice in include: advising a creditor seeking a sequestration order; advising an individual opposing an application for a sequestration order…