Our results driven Perth Business Advisory and Insolvency team is experienced in helping insolvency practitioners, directors and companies through difficult legal and financial times. We have successfully assisted a range of clients with:
Here are some examples of matters in which we have assisted clients, often working with our client’s other business advisors (including accountants) :
We take a holistic approach to all of our matters. For example, for one of our mining services clients we :
We have advised a number of clients on the best trading structures to allow continuity of business and protect the family home against future insolvency events.
Many of our clients have a potentially viable business but have encountered unfortunate circumstances. For example, a major debtor has failed to pay an account, a director or key employee has fallen seriously ill, the business has grown at an unsustainable pace, the business hasn’t been proactive or reacted quickly enough to changes in the market.
In many cases these clients are able to carry on business on a smaller scale or under a different structure with our assistance. We assist our clients to sell their business, at market value, to a third party or a related party to avoid cessation of business, with the benefit of:
We have successfully assisted numerous clients that have attempted a DIY restructure. For example, one client had transferred assets between three companies, in preparation of sale of one of the companies (that did not eventuate), and the accounts of the companies were a spider’s web of intercompany credits and debits.
There are some situations where Liquidation or Bankruptcy is inevitable. In those circumstances, we assist our clients by explaining processes and obligations, completing complicated paperwork and generally liaising with the Liquidator or Bankruptcy Trustee to ensure a smoother process.
We regularly deal with the ATO to obtain:
We have successfully defended and/or settled a large number of claims by liquidators against directors including insolvent trading claims, preference claims and demands for repayment of drawing/loan accounts.
We have successfully negotiated numerous instalment arrangements, with the ATO and other creditors, including for one client that was able to avoid bankruptcy despite failing to lodge tax returns for 10 years, having at least one expired DPN and the ATO commencing Court action.
Often directors borrow money against their family home for use in the business. We can assist with:
Customer satisfaction is the benchmark of success here at Murfett Legal. Contact us today and our lawyers will be in touch to fully understand your situation in order to provide clear cut solutions for your needs.