INFORMAL ARRANGEMENTS

If the directors recognise early enough the financial problems of the company, it is possible that an informal arrangement may be reached with creditors. These are generally difficult to achieve because all creditors would need to agree, and the creditors are not necessarily then bound to continue that support and may renege at any time. Therefore this option only works in limited situations, and perhaps a VA may be appropriate if the problem can be resolved in a short period of time.

Due to the complexities in administering Corporate Insolvency matters, we may not be able to deal with matters outside of Western Australia. However please phone to discuss this first.