Click Here

Building and Construction Industry

Building and Construction Industry

Voluntary Administration to Official Liquidation

 

The Situation

SV Partners were appointed as Voluntary Administrator of the largest remedial earthworks company in Tasmania with approximately 75 employees. The company had a large secured facility including debtor factoring through a financial services company.

The Solution

SV Partners entered into a licence agreement for management and ongoing trading of the business with a view of to selling the company’s business and assets in order to meet secured creditor claims.

The Outcome

The matter eventually resulted in a court ordered Official Liquidation. SV Partners were able to successfully secure a sale of the business and assets in addition to recovering numerous voidable transactions.

Tags: