Understanding Insolvency

Getting impartial and independent insolvency advice can be a challenge for business owners and their accountants. Insolvency practitioners often recommend liquidation or administration, while short-term lenders recommend more debt. Everyone has an opinion and it may not be in your best interests. With Vault, you can count on our advice because we’re independent and work only for you, the business owner. If you need or are considering restructure or insolvency for your business, contact us as early as possible in the process.


Our Impartiality Promise

Our insolvency service examines your entire situation and recommends the best solutions for you and your business. Our recommendations will help you meet all your obligations and get the best result for you and your creditors. We provide an all-encompassing solution, and an expert insolvency consultant to guide you through the process and ensure every decision is based on best information available. No matter what the best solution turns out to be, we give you the advice without fear or favour. We are completely impartial and only want to help. We will never recommend solutions that lack longevity or practicality, or put you at additional risk.


Pre-Insolvency Advice

Despite how it sounds, pre-insolvency advice doesn’t mean you’re definitely heading towards insolvency. In fact, we’ll examine your situation and options to determine whether insolvency is even right for you.

Other options may include:

  • engaging insolvency professionals
  • trading out
  • negotiating with creditors
  • a combination of these.

We collect and review as much information as possible, and propose a solution that will get the best result for all stakeholders. Many business owners are reluctant to get pre-insolvency advice (perhaps due to the word ‘pre-insolvency’!). But without it, you won’t find the best solution for you and your creditors.


Our Insolvency Advice Package

Our insolvency package includes a process where we:

  • learn about the business and its position, and your position
  • review all liabilities and debt
  • talk through all options with you
  • meet with an insolvency consultant
  • determine a suitable outcome.

Too often, we meet business owners who’ve been pushed into administration without understanding their options or the potential consequences. If you only speak to an administrator, you won’t know the full scope of options and what will give the best result. As impartial advocates, we’ll make sure you’re well informed of your obligations and options. We would never force you into a solution just to push the matter along. Our pre-insolvency advice includes an explanation of the processes ahead, so you know your rights and responsibilities.

We have no referral or commission arrangements with any third-party providers. We recommend solutions based only on your business’s best interests. If you work with us, we act only for you.


Here For The Long Haul

The insolvency maze is tough, so we won’t just make a recommendation and run. We’re in it for the long haul. Our insolvency service will assist you at all stages of the process. If the solution is administration or liquidation, we’ll help you navigate that process and advise on how to communicate with stakeholders about the situation. Our insolvency consultant team is highly practical but also empathetic. They’ve walked many business owners through a restructure and/or insolvency process and helped them arrive at the other end in one piece. We know it’s a stressful time, so we’ll do our best to reduce the pressure for you.


We Can Come To You

We have offices in Brisbane, Adelaide, Melbourne and Sydney, and visiting offices in Geelong and on the Gold Coast. We also travel to rural locations to assist our clients and we’re not afraid of an overnight drive! We know that having someone in front of you to explain the process and options could be the difference between success and failure.

Vault Business Advisors is now The Accountants