Insolvency and Restructuring: Strategy and resolutions
Many New Zealand businesses struggle. Some struggle for a variety of reasons. Some are internally solvable and some are due to outside influences. Perhaps a client didn’t pay and it created a domino effect. Perhaps a key customer or client was lost.
Some businesses can be saved. Some cannot.
Most New Zealand business owners will “DIY” the situation until such time as they cannot anymore. Perhaps a creditor issued a statutory demand, or worse a liquidation application has been filed at the High Court!
Immediate action is necessary.
There are often a variety of solutions and options to restructure and save the business or even turn around the existing business! Many of these options are lost as time goes on.
We are expert insolvency lawyers with extensive experience in this industry. Our lawyers have previously worked for liquidators and receivers for many years and have extensive inside knowledge as to how the industry works.
Because of our unique background, we are able to give strategically sound advice in regard to options in an insolvency situation and advice on potential restructuring options. We also have significant experience in resolving disputes that naturally arise from these stressed circumstances.
In our experience, most business owners don’t obtain advice early enough and they diminish their options as a result. In insolvency situations, there are also statutory timeframes that certain actions can be taken within. It is important that expert advice is taken early to increase the chances of a positive outcome.
The next step is to book FREE 30-minute Legal Consultation. At this Consultation you will:
- Get a real appraisal of your current situation;
- Identify possible issues to consider; and
- Develop strategy to resolve the issues.