Why Choose us?
We specialise in insolvency services such as Bankruptcy, Liquidation, Administration and Receivership and includes other consulting and investigative reporting services specifically for individuals and small business.
We know small business because we are a small business.
Formal Insolvency services
Corporate (company) Services
Voluntary Administration (VA) allows a business to continue trading while offering protection from action brought by creditors. The VA procedure allows companies in financial distress time to develop and implement a restructuring plan with its creditors or at allow time to plan for an orderly sale of the assets through liquidation. Gervase Consulting working with the company can provide the best outcome for all creditors and stakeholders under the VA process including the survivial of the business.
Creditors Voluntary Liquidation (CVL) also known as ” Creditors Voluntary Winding up” is a procedure for an insolvent company for when a company reaches a point that the company’s debt has become unmanageable and has generally little or no cashflow resources available. It is usually a last resort for a company as it is insolvent and cannot continue to trade. Gervase Consulting can provide the necessary collective procedure that allows for an equitable and fair distribution of the assets available to creditors of the company.
A Court Appointed Liquidation also known as a “Official Liquidation” (OL) is a liquidation that starts as a result of a court order, made after an application to the court, usually by a creditor of the company. Gervase Consulting role in such appointments includes an emphasis on the circumstances that precipitated the winding up through a investigation of the company’s affairs leading up to the appointment and advise creditors of any assets available to provide for an equitable and fair distribution of the assets available to creditors of the company.
A Members Voluntary Liquidation (MVL) is a process undertaken by a solvent company when the company no longer wants to continue to trade due to a number of factors including retirement and changes in economic environment. Gervase Consulting can assist in the process and the necessary documentation to commence.
A Receiver who has, under the terms of their appointment, the power to manage the company’s affairs. This procedure can apply to corporations, partnerships and individuals. A receivers role is to collect and safeguard income and assets with the aim of protecting property subject to their appointment. A Receiver and Managers (controllers) are entitled to carry on the business as a going concern and have additional rights, including the right to buy and sell. Gervase Consulting undertakes both Receiver and controller appointments from time to time with the aim of completing the role in an efficient and timely manner.
Personal (individual) Services
A Debtors Petition is a process in which an individual lodges their own petition to become Bankrupt. This is usually entered into when a person is unable to come to any arrangement with their creditors or is insolvent. The process includes completing a Statement of Affairs summarising income, assets and liabilities and a Debtors Petition that is lodged with the Australian Financial Services Authority (AFSA). Gervase Consulting can assist and advise individuals who find themselves in situations of personal financial distress and insolvency and decide to present a Debtors Petition. Our role includes investigations into the causes of the insolvency and reporting to creditors to advise them of any income or assets available for an equitable and fair distribution to creditors.
Bankruptcy can also be initiated via a Sequestration Order. A Sequestration Order is where an individual creditor has applied to the Court to have you made bankrupt. This is usually done on application of a creditor by way of Creditors petition. In most cases, the creditor would have obtained judgement on the debt and would have served a Bankruptcy Notice on the individual that they are seeking to make Bankrupt. Gervase Consulting’s role in such appointment includes investigations into the causes of the insolvency and reporting to creditors to advise them of any income or assets available for an equitable and fair distribution to creditors.
A Personal Insolvency Agreement (PIA) or “Part X” is an alternative to bankruptcy and can allow a individual (debtor) to come to a formal arrangement as to discharge of debts. The procedure is designed to encourage flexible arrangement between debtors and creditors. A PIA only binds the creditors that assent to them and requires a “yes” vote from a majority of creditors who represent at least 75% of the dollar value of the voting creditor’s debts. Gervase Consulting can provide more information and can administer the requirements for a PIA, including to professionals who’s trade or profession may be affected by becoming Bankrupt.
Financial Stress Management services
At Gervase Consulting we offer a range of PPSR services to assist business owners, credit managers and secured parties navigate the requirements of the PPSR.
Our expertise in understanding the PPSR allows us to use these skills and help you and your clients navigate and maintain their security interests.
Our experience in statutory trustee appointments over property allow us to resolve property owner disputes in situations such as where you and your spouse have separated and cannot agree on what is to happen to the property or where parties have joint property as an investment can not reach agreement or compromise. To appoint a Statutory Trustee you have to apply to Court seeking relevant Orders. A Statutory Trustee will market and sell the property and distribute the net sale proceeds to the respective owners in accordance with the terms of the Court Order.
Gervase Consulting can also assist companies settle debts which they owe or legal claims against them which they cannot pay. If successful, this results in a company avoiding unnecessary liquidation or voluntary administration. Such settlement negotiations can also be facilitated for individuals and can also include Debt Agreements (Part IX) in certain circumstances where creditors are made offered an amount in settlement of the debts due.
Gervase Consulting can undertake specialist investigations and corporate advisory services on behalf of a company or individual using our expertise in business affairs to provide recommendations and solutions in regard to cash flow, processes and management of a business affairs to maximise the value of the business for all stakeholders.