Liability limited by a scheme approved under Professional Standards Legislation                                                                                                                            © 2018 by Bruce Mulvaney & Co

Bruce Mulvaney & Co​

 

Tel: (03) 9896 9000

Fax: (03) 9896 9001

Email Bruce Mulvaney

Level 4, 858 Glenferrie Rd,

Hawthorn, Vic, 3122

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Whitehorse Business Group

Fast Solutions to Keep Business Trading

A Quick Discussion

 

An "overview" phone call to us, usually followed by a meeting, will help provide clarity and an Independent Assessment. In this way we are able to assist you to make informed decisions about the future of your company. 

 

Outside Formal Insolvency

Options at this point may include refinancing or restructuring your debt facilities, negotiating with your creditors on your behalf, or by providing commercial advice to help your business to trade out of its current difficulties. The Safe Harbour provisions can provide a beneficial environment to make positive restructuring changes. Our Group business Greatworth Advisory helps with these services. 

 

Formal Insolvency Administrations

If significant issues emerge then more formal Insolvency measures may be necessary. A period of Voluntary Administration can be utilised to provide the company with some 'fresh air' while a compromise with creditors is reached and to evaluate the business' future. 

 

Selling the Business

Alternatively, if the company cannot continue to trade, we can help you negotiate the sale of your business and its assets. If the Business is Unsaleable, a Liquidation may be the best solution. 

When to seek Help - Trading Losses & Deteriorating Cash at Bank are Signals

 

If finances are getting "tighter" in your organisation, then it is time to seek Independent Advice.

When is a Company Insolvent?

 

Before a company purchases goods or services on credit terms, then the directors must have confidence that their company will have cash to pay back those liabilities when they are due. If a reasonable person in those circumstances cannot be confident, then the company is insolvent.

 

 

Signals of Potential Insolvency

 

  • Loss of a major contract?

  • Significant bad or doubtful debts?

  • Mounting ATO Liabilities?

  • Exceeding overdraft limits?

  • Difficulty getting finance?

  • Ongoing trading losses?

  • Fallout between directors?

  • Cashflow problems?