Some of our recent experiences:
We act as advisors for a creditor being pursued for an unfair preference. We prepared an expert solvency report, tested our clients’ possible defences and assisted our client’s lawyers to negotiate with the Liquidators. Our work on this matter is representative of our extensive knowledge of insolvency and preference law and our unique strategic and tactical approach to defending voidable claims.
SV Voidables took lead on three complex unfair preference claims from the one appointment. The claims were novel law. We claimed that payments made to unsecured creditors, which occurred after the Liquidators appointment and pursuant to a sale of business agreement (pre-appointment) to a related third-party, were unfair preferences. We prepared demands, liaised with lawyers and successfully negotiated the settlement of all 3 claims, recovering almost $1 million for creditors.
We advised on the recovery of approximately $600,000 in unfair preferences against 3 creditors, at an average recovery rate of 99% of the quantum of the claims. We liaised with the Liquidators lawyers, corresponded with the creditors and negotiated commercial settlements.
We investigated the company’s books and records and identified approximately 22 voidable transactions claims totalling $2.25 million that we considered met our requirements for recovery. For more information on our Voidables experience, please visit our case studies page.