02 Dec George Divitkos
George has some 38 years of experience in business recovery and insolvency having previously worked in a director/appointee capacity at several firms. A registered liquidator since 1992, George has a broad based experience in all aspects of accounting and finance.
Formerly a board member of the local state and national ARITA boards, George has had secondments to the National Credit Management Unit of the State Bank of South Australia with a view to resurrecting some of its major distressed accounts as well as acting in a role as Financial Controller of Great Southern Rail after its privatisation.
George undertakes appointments over solvent and insolvent corporations and acts in informal capacities assessing financial viability/solvency in SA and the NT and has experience working in a wide range of industries.
He has been involved in restructuring of complex corporate groups in order to simplify structures in a tax effective way. He has also been involved in numerous business reviews, investigating accountants reports and due diligence reports.
- Court Liquidations
- Creditors Voluntary Liquidations
- Members Voluntary Liquidations
- Voluntary Administrations
- Appointed liquidator of Riverland Fruit Co-operative which involved significant and complex legal actions. Achieved 100c in the dollar return to creditors and interest as well as small dividend to members.
- Appointed voluntary administrator and subsequently deed administrator of the Cockatoo Ridge Wines group of companies. The appointment involved complex legal matters resulting from the number of companies in the group structure.
Included recapitalisation and sale of listed head shell company and partial return to secured creditor.
- Appointed liquidator of EzyDVD which required complex and detailed insolvency and transaction analysis which resulted in the achievement of significant preference recoveries. A substantial return to the secured creditor was paid following the attainment of precedent making court direction clarifying the secured creditor’s entitlement to subrogate as a priority creditor for employee entitlements paid.
- Numerous receiverships and controllerships of corporations with going concern or asset sales and returns to secured creditors.
- Numerous business reviews and workout assignments with some resulting in a turnaround of business and ongoing profitable trading.
- Numerous solvent tax based restructuring and members voluntary liquidation engagements.
- Registered Liquidator
- Bachelor of Economics
- Fellow of Chartered Accountants Australia and New Zealand
- Fellow of Australian Restructuring Insolvency and Turnaround Association
- Member of Australian Institute of Company Directors
- Member of Australia Institute of Credit Management
- Member of winSA