Creditor Negotiations

Queensland Administration Services can approach creditors on your behalf, and quite independent of any formal administrator. In these circumstances, we would prepare a statement of affairs concerning your assets and liabilities and an outline of how you would propose to deal with either part or all of their debts. It may also avoid any unnecessary legal costs and shows creditors that you wish to deal with them on an honest and up-front basis and thus helps re establish the communication link.

Business Restructures

The good news is these problems can often be overcome by having the company viewed and then restructured after assessing what has caused the problems. By having a restructure or an assessment done of your company when it is in the early stages of duress may save 10’s of thousands of dollars and large periods of emotional duress.

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Refinancing

Although we believe it's bad practice to borrow more money to get out of debt, there are some exceptions to the rule. Often by borrowing an amount of money now, a proposal can be put forward to creditors, whereby they will accept a lump sum rather than a time repayment period, but the lump sum being substantially less than the total amount of debt owed to them. Alternately, sometimes particularly when there is work in progress or the debtor is comfortable it will come in, a short term fix is of immense advantage.

Wills & Trusts & Asset Protection

Everyone whether they are financially well of or under financial duress should have a Will and a discretionary Trust, which goes to at least certain length to protect your hard earned assets. Although there are continually changes to bankruptcy act and some of them we admit are draconian that enable Administrators to go back several years to acquire assets, some protection is clearly better than no protection.

Liquidations and Deeds of Company Arrangements

The debtor appoints an Administrator and places his company for a certain period of time under the control of that Administrator, while he prepares a proposal to be put forward to a meeting of creditors where if accepted the company is then handed back to the directors and they are to ensure that they honour the terms and conditions of the proposal put forward.

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For an assessment on whether or not Liquidation or Deed of Company Arrangement would be beneficial to you, please contact Q.A.S. for an obligation free consultation.

Legal Referal Services

Keeping in trend that Q.A.S. operate as a One-Stop-Shop for our clients, we have access to a large variety of legal personnel that cover every area of law including but not limited to: Family Law, Criminal Law, Commercial Law, Insolvency Law.