Insolvency Lawyers in Brisbane
Insolvency Lawyers in Brisbane
Aitken Partners' Brisbane insolvency lawyers advise insolvency practitioners, directors, businesses and creditors on insolvency, restructuring and recovery matters throughout Queensland. We provide practical, commercially focused advice across all stages of financial distress, from early restructuring initiatives through to formal insolvency administrations and insolvency litigation.
Our team is led by Erin Prout, Principal Lawyer, Insolvency, Litigation, Commercial Law and acts for liquidators, voluntary administrators and other insolvency professionals, as well as businesses exploring restructuring options when facing financial difficulties or pressure from creditors, including the Australian Taxation Office. We also advise on the various issues that arise during formal insolvency administrations, including:
- unfair preference claims;
- uncommercial transactions;
- insolvent trading claims;
- investigations and examinations arising in insolvency administrations; and
- issues relating to the Personal Property Securities Register (PPSR).
We have extensive experience dealing with ASIC and other regulators, including regulatory examinations and court proceedings under the Corporations Act 2001 (Cth), ASIC Act 2001 (Cth) and Bankruptcy Act 1966 (Cth).
Our team also advises on Part X Personal Insolvency Agreements, mortgagee sales and a range of personal insolvency matters. We have experience in matters arising under the Bankruptcy Act 1966 (Cth), including acting for registered trustees, individuals facing bankruptcy and bankrupt individuals. Our experience includes assisting with asset recovery investigations, recovery actions and the commencement and defence of insolvency-related proceedings.
For clients involved in insolvency matters affecting Queensland property or commercial interests, we can also provide advice on the interaction between insolvency laws and Queensland-specific property, security and enforcement issues.
Our Insolvency and Restructuring Team understands that insolvency matters often involve complex legal issues extending beyond corporate and personal insolvency. Effective advice may require expertise in property law, commercial law, taxation, employment law and litigation. Our multidisciplinary team works collaboratively to provide strategic, practical and commercially focused advice tailored to the needs of each client.
Our People: Erin Prout, Principal Lawyer, Insolvency, Litigation, Commercial Law
Get in touch
To get in touch with our Brisbane insolvency lawyers, fill out the form below or give us a call on: +61 7 3544 5659
Located in Melbourne CBD at Level 28, 140 William Street, Melbourne. Servicing all Melbourne suburbs online and within a 15-minute drive for: Melbourne CBD, Carlton, Fitzroy, Richmond, South Yarra, St Kilda, Brunswick, Collingwood, Prahran, South Melbourne, North Melbourne.
Frequently Asked Questions
A business is insolvent when it cannot pay its debts as and when they fall due. Warning signs can include: cash flow pressure; overdue ATO or superannuation obligations; creditor demands; and dishonoured payments. If you’re unsure, our Insolvency team can assess your position and outline your options.
Liquidation isn’t the only pathway. Depending on your situation, options may include: restructuring; negotiating with creditors; voluntary administration or the small business restructuring process. Early advice from our Insolvency team helps identify the best approach.
Ignoring demands can escalate quickly. Creditors may issue formal demands, commence court action or serve a creditors statutory demand, which can lead to winding up proceedings and the appointment of a liquidator. The ATO may issue a Director Penalty Notice, making directors personally liable for the unpaid tax liability of the company.
Yes. Directors can be personally liable if the company trades while insolvent, if personal guarantees have been given, or if PAYG, GST or superannuation liabilities remain unpaid. Liability can also arise from breaches of directors’ duties or certain transactions which are considered uncommercial or unreasonable.
You should seek advice as soon as signs of financial pressure or distress arise within your business, including cash flow difficulties, adverse creditor action, or concerns about meeting obligations. Early advice is critical to preserving all the restructuring and insolvency options for both the Company and the director(s) . Aitken Partners can provide clear, strategic advice tailored to your circumstances.
If a Pty Ltd company continues to incur debts when it cannot pay them as and when they fall due, its directors may be exposed to personal liability for debts incurred during this period. Under the Corporations Act 2001 (Cth), directors have a duty to prevent insolvent trading. This duty applies even if the company is small, family-owned, or owner-operated (sole-traders are excluded). Directors who ignore the warning signs of a company’s insolvency may face claims for company debts, civil penalties, or other consequences.
Please note: The information on this page is provided for general information purposes only and does not constitute legal advice. It is not intended to be comprehensive or to apply to any specific circumstances. You should seek independent legal advice before acting on any information contained on this page.