Recovery & Insolvency

Business Recovery

As trusted advisers to not only local but national businesses, we are committed to helping them fulfil their commercial potential. When commercial pressures force businesses into distress, our team of recovery specialists are on-hand to step in quickly, help stabilise the situation and bring about the best possible resolution.

Our priority at all times is to maintain the value and future viability of the business. Distress, or even the threat of it, can quickly erode confidence and create a crisis, leading to loss of value.

Our recovery and turnaround team can step in quickly with a decisive action plan to help stabilise the business and secure relationships with key stakeholders including shareholders, employees, financiers, suppliers and customers.

Because we work closely with our clients, we understand the pressures and issues affecting them and are well placed to work with the relevant parties to identify innovative commercial solutions to their problems.

Our appointments have included:

  • Accommodation & Food Service providers
  • Engineering companies
  • Farming - Agricultural & Fishing
  • Manufacturers
  • Retailers
  • Suppliers
  • Wholesalers

Receiverships

As Receivers we place considerable importance in understanding and pursuing the objectives of our appointers. We are proactive in managing the assignment, always taking a commercial approach to maximising the return to the security holder.

Our appointments have included:

  • Manufacturers
  • Retailers across a variety of industries, including a retail chain with 11 stores nationwide
  • Suppliers
  • Wholesalers
  • Trusts

The appointment of a receiver to a Trust is a rare remedy. Garrow and Kelly Law of Trusts and Trustees (7th Edition) refers to only one New Zealand case, Molloy v Molloy. Rowan Chapman was the Court appointed receiver of that Trust.

Creditor Compromises

A creditor’s compromise is a formal agreement between a company or individuals and their creditors to facilitate payment of their debt in part or in full over time.

With our extensive experience as Supervisors of creditor compromises, we work closely with the proponent and the creditors to achieve the best possible outcome for all parties.

Our engagements have included:

  • Engineering companies
  • Manufacturers
  • Service providers

Voluntary Administrations

Upon the appointment of an administrator, the company is protected from action being taken by its creditors. The administrator’s first priority is to stabilise the company's financial position and then to develop an action plan for its future.

As Administrators we take pride in working with the company in a manner which maximises the opportunity for the company and its creditors to move forward. Our experience allows us to suggest and work through the best outcome for all concerned, whether that be a Deed of Company Arrangement, or the eventual liquidation of the company.

Liquidations

Company liquidation can occur voluntarily or by court appointment where it has been established a company is unable to pay its debts as they fall due.

As Liquidators we take positive steps to achieve the best outcome for all creditors.

Our appointments have included:

  • Retailers across a variety of industries, including a womens retail clothing chain with 22 stores nationwide