Insolvency & Bankruptcy Lawyer Queensland
Insolvency and bankruptcy matters can have serious legal and financial consequences for individuals, directors, businesses and creditors.
David Cole is a Queensland barrister providing insolvency and bankruptcy legal services. He acts for both creditors and debtors in personal and corporate insolvency matters, advising and representing individuals, directors, businesses and insolvency practitioners in negotiations and court proceedings.
Insolvency and bankruptcy matters can move quickly, and some processes involve strict response periods. Obtaining legal advice promptly, rather than waiting until a position has deteriorated or a deadline has passed, may help preserve available options.
Facing an insolvency or bankruptcy issue? Whether you are facing insolvency proceedings, seeking to recover a debt or need advice about your obligations and options, contact David on 0407 322 955 or (07) 5630 4000 to discuss your circumstances.
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Insolvency & Bankruptcy Legal Services
David provides advice and representation across the following areas:
- Bankruptcy advice and proceedings
- Statutory demands
- Winding-up applications
- Creditor's petitions
- Defending statutory demands and winding-up applications
- Voluntary administration
- Liquidation
- Receivership
- Personal insolvency agreements
- Voidable transactions and unfair preferences
- Insolvent trading claims
- Director liability
- Director Penalty Notices
- Deeds of Company Arrangement
- Insolvency-related debt recovery
- Creditor negotiations
- Advice following liquidation or bankruptcy
- Insolvency litigation and court proceedings
Speak directly with David on 0407 322 955 or (07) 5630 4000 about your circumstances and the legal options available.
Corporate Insolvency Advice for Businesses & Directors
A business experiencing financial difficulty, or a director concerned that a company may be insolvent, faces decisions that can carry personal as well as commercial consequences. Under the Corporations Act 2001 (Cth), directors may face personal liability where a company incurs debts while insolvent, subject to the requirements of the insolvent trading provisions.
David provides corporate insolvency advice covering a director's position and the options available. These can include restructuring, voluntary administration or other formal insolvency processes, as well as steps to address the underlying financial position. Directors may also receive a Director Penalty Notice from the Australian Taxation Office in relation to certain unpaid tax and superannuation liabilities. The consequences depend on the type of liability and the circumstances.
Circumstances differ, and formal insolvency is not automatically the appropriate response to every situation. Obtaining advice early may help identify available options before the company's position deteriorates further.
Statutory Demands & Winding-Up Proceedings
David acts on both sides of statutory demand and winding-up matters, for creditors considering issuing a statutory demand or seeking to wind up a company, and for companies and directors responding.
For example, a company may receive a statutory demand from a creditor claiming an unpaid debt and need advice on whether to challenge it, or a creditor may be considering formal recovery action against a company that has failed to pay. Statutory demands and winding-up proceedings involve strict procedures and response periods, and the consequences of missing a deadline can be significant.
Received a statutory demand or winding-up application? Contact David promptly on 0407 322 955 or (07) 5630 4000 for legal advice about your options.
Voluntary Administration, Liquidation & Receivership
Voluntary administration may be used where a company is insolvent or likely to become insolvent, allowing its affairs to be reviewed with a view to a possible Deed of Company Arrangement. Liquidation generally involves winding up a company's affairs, while receivership typically involves a secured creditor appointing a receiver over particular assets.
David advises on voluntary administration and liquidation matters, assisting businesses, directors, creditors, liquidators and administrators with the legal issues arising from these processes, including the options available and how a particular process may affect a person's position.
Personal Bankruptcy & Insolvency
Personal bankruptcy raises different considerations from corporate insolvency, although the two areas often intersect. David advises individuals facing bankruptcy, including in response to a bankruptcy notice or creditor's petition, and on alternatives such as personal insolvency agreements under the Bankruptcy Act 1966 (Cth), as well as negotiations with creditors.
David also assists creditors, including in relation to creditor's petitions, where they are considering bankruptcy proceedings against an individual, and can assist with disputes that arise during bankruptcy.
Legal Advice for Creditors
Insolvency law is not only relevant to people or businesses in financial difficulty. David also provides creditor insolvency advice to those owed money by an insolvent or uncooperative debtor. This includes advice regarding bankruptcy notices and creditor's petitions against individuals, statutory demands and winding-up applications against companies, and creditor rights in a liquidation or administration.
For example, a creditor may be considering a statutory demand against a company that has stopped responding, or negotiating a resolution before taking formal steps. Insolvency procedures are not simply an alternative to ordinary debt collection. Whether they are appropriate, and which process to use, depends on the circumstances.
Insolvency Disputes, Unfair Preferences & Voidable Transactions
Insolvency work can extend well beyond the initial event into contested proceedings, including unfair preference claims, other voidable transactions, insolvent trading claims against directors, and disputes involving liquidators or trustees.
For example, a creditor who received a payment shortly before a company's liquidation may later face a claim from the liquidator seeking to recover it. David can act for insolvency practitioners pursuing these claims, and for parties responding to them, including in recovery proceedings and court representation.
Acting for Liquidators, Administrators & Trustees
David also accepts instructions directly from insolvency professionals requiring legal advice or representation, including in connection with recovery proceedings, investigations and disputes, voidable transaction claims, and other court applications arising from an administration or bankruptcy.
Why Choose David Cole?
David Cole brings over 25 years of legal experience to insolvency and bankruptcy matters, and a strong background in civil and commercial litigation. Clients deal directly with David for advice and representation, rather than being handed between an anonymous team.
David can appear in courts across Queensland and, where appropriate, in other Australian states and territories, subject to the particular matter and jurisdiction. He assists with both contentious matters, including disputes and court proceedings, and non-contentious advice on obligations and options.
Insolvency and bankruptcy proceedings involve competing interests, and David represents parties on different sides of these matters, including individuals facing bankruptcy, company directors and businesses under financial pressure, creditors seeking recovery, and liquidators, administrators and trustees dealing with disputes or proceedings.
Clients benefit from:
- More than 25 years of legal experience
- Extensive civil and commercial litigation experience
- Advice directly from an experienced Queensland barrister
- Representation for both creditors and debtors
- Experience acting for individuals, businesses, directors and insolvency practitioners
- Assistance with both contested court proceedings and non-contentious insolvency advice
- Representation across Queensland and, where appropriate, other Australian jurisdictions
Frequently Asked Questions
What is the difference between insolvency and bankruptcy?
Bankruptcy applies to individuals. A company that is insolvent, meaning it is unable to pay its debts as and when they become due and payable, may instead enter a process such as voluntary administration or liquidation.
When is a company considered insolvent?
A company is generally considered insolvent when it is unable to pay all of its debts as and when they become due and payable. Whether this is the case depends on the company's circumstances and evidence of its ability to pay, rather than simply whether one debt has gone unpaid.
What should I do if my company receives a statutory demand?
Statutory demands involve short, strict timeframes, and the consequences of not responding appropriately can be significant. Obtaining legal advice early may help you understand your options and respond appropriately.
Can a creditor make someone bankrupt?
Yes, in certain circumstances. A creditor who meets the statutory requirements may commence bankruptcy proceedings against an individual, including by applying to the court for a sequestration order.
Can a creditor wind up a company that owes them money?
Where the statutory requirements are met, a creditor may be able to issue a statutory demand and, if it is not satisfied, apply to wind up the company. Strict procedures apply, and legal advice can help determine whether this is the appropriate course.
Can directors be personally liable for company debts?
A company is generally a separate legal entity from its directors. However, circumstances can expose a director to personal liability, including insolvent trading and certain unpaid tax and superannuation liabilities.
Can an insolvency lawyer act for creditors as well as debtors?
Yes. David acts for creditors, debtors, directors, businesses and insolvency practitioners, and can advise on both bringing and defending insolvency and bankruptcy proceedings.
Speak With an Insolvency & Bankruptcy Lawyer
Whether you are an individual facing bankruptcy, a director concerned about the financial position of a company, a creditor seeking payment, or an insolvency practitioner requiring legal representation, David can advise you about the legal issues involved and the options available.
Insolvency and bankruptcy matters can involve strict processes and timeframes. Getting advice early can help you understand your position and determine which options may be available before important deadlines pass.
Contact David Cole to arrange a confidential discussion about your insolvency or bankruptcy matter. Call 0407 322 955 or (07) 5630 4000, or submit an online enquiry.
To avoid tough penalties & jail you need an experienced Lawyer to defend you. For the best possible outcome in your case, speak with David. Use the contact form or call now on 0407 322 955. (Available 24/7)Have you been charged?