Corporate insolvency, restructuring & turnaround
Advice for directors and companies under financial strain on insolvency, external administration, restructuring and turnaround.
Client reviews
Verified Google reviews
Julz
Sale of a business
Michael Lim was fantastic in helping us with the contract and the sale of our café. He was professional, knowledgeable and made the whole process much easier for us. Michael explained everything clearly, responded to our questions quickly and made sure everything was handled properly from start to finish. Selling a business can be stressful, but we felt confident knowing Michael was looking after the legal side for us. We really appreciate all his help and would highly recommend Michael to anyone needing assistance with a business sale or contract.
Juliana M.
Building defects claim
Thank you to Maysaa, Guy and your teams for the support you have provided throughout the defects claims process and during the rectification works. Your guidance, responsiveness, and commitment have been invaluable, and we are truly grateful for the effort and expertise you have contributed in helping finalise this matter. Thank you again for your continued support, dedication, and partnership. It has been a pleasure working with you throughout this process.
Dariush H.
Ongoing legal matters
I've had a great experience with Michael and the team at Project Lawyers. Michael is professional, knowledgeable and always takes the time to explain things clearly. He has assisted me with several matters over the years and has always been responsive and focused on finding practical solutions. I really appreciate the level of service from Michael and his team and would happily recommend them.
Maddalena V.
Compulsory acquisition
I chose Project Lawyers and in particular Maysaa Parrino to assist me through the complex process of a compulsory acquisition. I found Maysaa an exceptional lawyer but most importantly a direct and strong communicator. Persistence, team work (thank you Matt for all your work as well) has provided the keys to achieve the best outcome possible. Thank you.
Victoria B.
Compulsory acquisition
I engaged Project Lawyers earlier this year for a compulsory acquisition project. Maysaa, Matt and Michael were exceptional. I was super impressed with the professionalism of everyone within Project Lawyers and would not hesitate to recommend them.
Practice area
Acting early gives you more options
There is a stigma attached to insolvency, but the law provides avenues and options for the benefit of everyone involved, and it is often better to act sooner rather than later. A company is insolvent when it cannot pay its debts as they fall due, and directors need to understand their obligations to place the company into liquidation or administration, or to seek professional advice.
Where a company is under financial strain from market forces, technology, disputes or other factors, restructuring focuses on its financial position and balances the interests of creditors and other stakeholders. Turnaround focuses on operations and management, for example reviewing contracts and reducing unnecessary overheads and liabilities.
Members’ voluntary liquidation
Voluntary administration and liquidation
Deeds of company arrangement
Creditors’ voluntary liquidation
Winding up by the Court
Directors’ duties and insolvency obligations
Restructuring and turnaround strategy
Why Choose Us
Insolvency advice built around your company
When a company faces financial pressure, timing matters. We advise directors, companies and creditors on their options, their obligations and the steps that come next.
Directors’ duties
Advice on directors’ obligations when a company may be insolvent.
Restructuring options
Support with restructuring, turnaround and deeds of company arrangement.
Creditor matters
Advice on statutory demands, winding up applications and creditor claims.
Working with advisers
Coordinating with accountants and insolvency practitioners on your behalf.
Get in touch
Call (02) 9025 0808, email law@projectlawyers.com.au or send an enquiry with a brief outline of your matter and any upcoming deadlines.
Initial discussion
We talk through your situation, the documents involved and what you want to achieve, then confirm who in our team is best placed to help.
Advice and a plan
We explain your options, the likely process and the next steps, so you can make an informed decision before work begins.
We act for you
From contracts and negotiations to mediation and court proceedings, we manage the legal work and keep you updated throughout.
Frequently Asked Questions
Frequently asked questions
Answers to the questions clients ask most. Can’t see yours? Send us a message.
When is a company insolvent?
A company is insolvent when it is unable to pay its debts as they fall due.
What are the options for an insolvent company?
Options include voluntary administration, a deed of company arrangement, creditors’ or members’ voluntary liquidation, or winding up by the Court.
What are directors’ obligations if a company may be insolvent?
Directors need to understand their obligations to place the company into liquidation or administration, or to seek professional advice, if they believe it is insolvent.
What is the difference between restructuring and turnaround?
Restructuring focuses on a company’s financial position and creditors. Turnaround focuses on operations and management, such as reviewing contracts and reducing overheads.
Can a struggling company keep trading?
It depends on the company’s position. Directors who suspect insolvency should get advice quickly, as continuing to trade can carry personal risk. In some cases the safe harbour provisions may offer protection while a restructure is developed.
What is a deed of company arrangement?
It is an agreement between a company and its creditors, usually proposed during voluntary administration, setting out how the company’s affairs will be dealt with.
Can directors be personally liable for company debts?
In some circumstances, yes. Directors can be personally liable if a company incurs debts while insolvent, and under any personal guarantees they have given. Early advice helps directors understand their position.
How do I contact Project Lawyers about a matter?
Still have a question?
Tell us about your matter and our team will get back to you.
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