Corporate & Personal Insolvency and Reconstruction

Insolvency advice and litigation is a specialised area of the law in which MBP Legal is well equipped to provide assistance. Our objective is to be commercially pragmatic and technically proficient.

INSOLVENCY

We also have a thorough understanding of the relevant divisions of the Corporations Act relating to the voluntary administration and winding up process (both voluntary and Court-ordered) and can provide technical, strategic advice at all stages of the litigation. Our emphasis is on identifying and formulating the appropriate strategy to obtain the appropriate outcome prior to commencing proceedings.

We regularly act for and advise administrators, voluntary and official liquidators and receivers / controllers in respect of all facets of their respective positions, with particular emphasis on s588 causes of action/remedies, winding up procedures (both in insolvent and solvent structures), applying for or defending removal applications, questions of priorities between receivers/administrators/liquidators and s596 examinations.

TAX AND INSOLVENCY

Because of the firms tax skill set, we can provide specialised tax advice to insolvency practitioners  in respect of their tax and tax compliance obligations as liquidators, administrators and receivers of insolvent companies and other structures and as bankruptcy trustees.

Tax compliance and tax liability issues do not cease when a company or other trading entity becomes insolvent. Furthermore, insolvency restructuring raises many taxation questions and complications. Where a company is part of a GST group or a member of a tax consolidation group, then advice should be sought on the tax impact of insolvency on other group entities.

BANKRUPTCY

We also substantial experience in personal insolvency, regularly advising and acting for trustees in bankruptcy in respect of the recovery of asset transfers by insolvent persons who transfer assets in an attempt to avoid paying creditors as well as the recovery of preference payments made by insolvent persons to preferred creditors prior to their bankruptcy. We also advise trustees and potential bankrupts on the effect and operation of section 73 annulments and Personal Insolvency Agreements and issues arising from assets jointly held by bankrupt persons.   

INSOLVENCY TEAM

Peter McCrohon – Partner
B.A.   LL.B.   M.Com.  M.Tax.  FTIA
Direct Line: 9220 9620 
Email: p.mccrohon@mbplegal.com.au

Nicolas Rovolas – Senior Associate
MA LL.B
Direct Line: 9220 9696 
Email: n.rovolas@mbplegal.com.au

TAX AND INSOLVENCY TEAM

Peter McCrohon – Partner
B.A.   LL.B.   M.Com.  M.Tax.  FTIA
Direct Line: 9220 9620 
Email: p.mccrohon@mbplegal.com.au

Stacey Smith – Senior Lawyer
LPAB, M.Tax(Syd) ATIA
Direct Line: 9220 9640 
Email:  s.smith@mbplegal.com.au