Insolvency And Reconstruction

Pragma helps its clients by providing them with expert personal and corporate insolvency and restructuring advice. We are trusted advisors to creditors, distressed entities, directors and insolvency practitioners.

When acting for insolvency practitioners, our pragmatic approach allows our clients to maximise returns for creditors and shareholders.  When acting for creditors, our swift approach allows our clients to maximise their return and protect their interests. When acting for directors, we conduct a careful examination of available statutory defences that may be available to them to maximise their prospects of success.

Our experience includes:

Conducting early diagnosis of legal issues that may impact upon solvency.

Developing workable and commercially realistic solutions to restructure businesses and create personal insolvency arrangements.

Preparing Deeds of Company Arrangement and other informal workout scenarios.

Enforcement and recovery of voidable transactions including unfair preferences, uncommercial transactions, unfair loans and unreasonable director-related transactions brought pursuant to Part 5.7B of the Corporations Act 2001 (Cth).

Performing detailed security and due diligence reviews to secure and protect assets including searches conducted on the Personal Properties Securities Act.

Conducting and representing parties in actions and examinations commenced by insolvency practitioners and corporate regulators, and arranging litigation funding for insolvency practitioners using our existing network of funders.

Recent Experience:

1.

Presently acting for insolvency practitioners in bringing $4M+ contractual claim against principal mining contractor.  Arranged for litigation funding for our client to avoid security for costs application.

2.

Enforced judgment in the Federal Circuit Court of Australia by arranging for sequestration (bankruptcy) order to be made and trustee appointed in respect of recalcitrant debtor.

3.

Commenced legal proceedings on behalf of insolvency practitioners to recover monies for unreasonable director-related transaction.  Claim resolved for approximately 70% of claim value at mediation conference shortly after commencement of legal proceeding.

Get in touch with the Pragma Legal Team for more corporate insolvency restructuring advice

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