Insolvency Melbourne
HOW WE CAN HELP
At BRI Ferrier Melbourne, we have an acute insight into the dynamics of businesses facing closure and individuals facing bankruptcy.
We help mitigate the negative effects of insolvency for stakeholders and maximise potential returns. Our aim is always to achieve the best outcome possible for our clients.
Business insolvency
Our team of registered and official liquidators in Melbourne acts for banks, company directors, business owners, legal advisors, creditors, investors and regulators. Our experience includes insolvency situations in industries such as property and construction, energy, mining, retail, manufacturing, logistics, primary industry, and tourism and hospitality.
We listen to all stakeholders to understand their objectives and implement a strategy that maximises their returns. In this way, we protect creditors’ interests, maximise realisations, manage claims and, where appropriate, pursue recoveries.
The three main vehicles for achieving these outcomes are receivership, creditors’ voluntary liquidation and court liquidation:
- Receivership. BRI Ferrier has acted for all of Australia’s first and second tier lenders as receiver and manager of distressed businesses. As receiver, we take control of a specific asset or entire business that is subject to security, typically held by a bank, and take steps to realise the value for the best possible outcome to the secured creditor. Find out more about business receivership
- Creditors’ voluntary liquidation. BRI Ferrier may be appointed as creditors’ voluntary liquidator when an insolvent company’s directors and shareholders resolve to liquidate the company, or when creditors vote for liquidation following a voluntary administration or terminated deed of company arrangement. Find out more about BRI Ferrier’s creditors’ voluntary liquidation services
- Court liquidation. BRI Ferrier is regularly appointed by courts that determine a business is insolvent and that liquidation is the best means to repay claimants. The appointment may take the form of provisional or official liquidation, where the former is a temporary mechanism. It enables us to take control of the business and its affairs, allowing for an orderly winding down of operations and realisation of assets. Find out more about BRI Ferrier’s court liquidation services
Recent examples of our expertise in business insolvency include:
- Guilfoyle Wreckers. BRI Ferrier was appointed as administrator and subsequently liquidator of Guilfoyle Wreckers Pty Ltd, Victoria’s second largest commercial demolition company. The administration involved continuing demolition contracts, including asbestos removal, at hospitals and other public buildings. It also included a significant dispute with the principal contractor on a major Melbourne site. The matter is likely to result in a financial return to creditors as a result of better than anticipated asset realisations and successful completion of contracts.
- Southern Controls. BRI Ferrier was appointed as administrator and subsequently liquidator of Southern Controls Pty Ltd, a major supplier of control valve systems to major oil and gas companies in Victoria, NSW and Tasmania. The administration involved an orderly wind down of operations, realisation of plant and equipment, a detailed investigation into the company’s affairs and identification of avenues for recoveries. We identified a number of off-balance-sheet assets and recoveries the company was entitled to via tax offset incentives, which resulted in a return to secured and priority creditors.
Personal insolvency
If you experience personal financial distress, BRI Ferrier can help. Our registered trustees in bankruptcy work with debtors to achieve the best possible solutions to their difficulties.
We also act on behalf of creditors to recoup losses. We do this by investigating and assessing potential recoveries available to the trustee. In addition, we may investigate and report any offences the debtor may have committed.
We understand both sides of personal insolvency and provide all parties with a resolution that reduces distress and anxiety.
The two main vehicles for achieving positive outcomes in these situations are personal bankruptcy and personal insolvency agreements:
- Personal bankruptcy. In cases of personal bankruptcy, BRI Ferrier acts for debtors to advise creditors on the likelihood of a return. We also act for creditors to investigate bankrupt estates and recommend ways of maximising recoveries. Find out more about BRI Ferrier’s personal bankruptcy services
- Personal insolvency agreements. We have extensive experience in personal insolvency agreements (PIAs), an alternative to bankruptcy. A PIA is a flexible but legally binding arrangement between a debtor and creditors. It identifies the debtor’s property and income available to pay creditors’ claims. It also specifies how any realisations are to be dealt with. Find out more about BRI Ferrier’s personal insolvency agreement services
We are insolvency firm in Melbourne check our our other financial solutions; Forensic Accounting Melbourne and Business Advisory Melbourne.
LOCATION
How to get to us.
Level 22, 500 Collins Street, ,
Melbourne VIC 3000
(03) 9622 1800
Monday–Friday: 8:30 AM – 5:00PM
BRI Ferrier Melbourne is located at Level 10, 45 William Street, Melbourne VIC 3000, in the western edge of the Melbourne CBD.
By train: The office is a short walk from Flinders Street and Southern Cross stations. From Southern Cross, walk east along Collins Street and turn left onto William Street. From Flinders Street, head west along Collins Street and turn right onto William Street.
By tram: Several tram routes run along Collins Street and Bourke Street. The closest tram stop is on Collins Street, approximately a 2-minute walk.
By car: Wilson Parking on King Street and Secure Parking on Lonsdale Street are the closest parking stations. We recommend arriving by public transport where possible, as CBD parking can be limited during business hours.
On foot: William Street connects Collins Street and Bourke Street. The building is accessible from either direction, located mid-block on the western side of the street.
