Expert advice for distressed and insolvent companies
At WAIS, we provide expert advice and solutions to directors of distressed and insolvent companies.
Our team comprises registered liquidators of the Federal Court and the Supreme Court of Western Australia and is highly experienced in providing formal corporate insolvency services.
It is an offence for a company to continue operating if insolvent
It is an offence for a company to continue operating and incurring more debt if insolvent and company shareholders and directors may also be held personally liable for unpaid debts incurred from the time the business became insolvent.
Therefore, professional advice and assistance is critical, especially as with the right strategy, it may be possible to salvage the financial situation and the company.
We work closely with our clients to achieve a fair result and pride ourselves on protecting them as we guide them through the process, safeguarding them from any harsh or unfair treatment.
Key points about corporate insolvency
Company shareholders and directors may also be held personally liable for unpaid debts
It may be possible to salvage the financial situation – and even the business by seeking professional assistance early
We protect our clients as we guide them through the process of insolvency and safeguard them from unfair treatment
Common corporate insolvency options for companies in financial distress
There are several warning signs that a company may become insolvent:
- Problems with cash flow
- The need to extend payment terms with creditors
- Refinancing to pay bills
- Solicitors’ letters, demands, summonses, judgements or warrants issued against the company
Have questions or need assistance? Reach out to our experts today
Corporate solutions for businesses experiencing financial distress
Small Business Restructuring
As Small Business Restructuring Practitioners, our Registered Liquidators ensure you benefit from the insolvency reforms. WAIS Registered Liquidators have vast experience in restructuring small businesses…Read more
Voluntary Administration (VA) Experts
Voluntary Administrations (VAs) allow insolvent companies to continue to operate, or, if this is not possible, they provide for a greater return to creditors than they would otherwise receive if the business was liquidated…Read more