With three Registered Liquidators, Bent & Cougle is able to act as:
• receivers and managers
Bent & Cougle Pty Ltd conduct both Voluntary (director initiated) and Official (generally creditor initiated) Liquidations.
For companies in financial difficulties or creditors seeking to wind up a company, we can advise on and assist in conducting Liquidations.
Bent & Cougle Pty Ltd can act as receivers for lenders so as to oversee the operations of a business and/or realisation of its assets to enable the lender to be repaid.
These provisions were introduced in 1993 with the objectives being to:
• maximise the chances of a company, or its business continuing in existence, or
• if that is not possible, results in a better return for the company’s creditors and members than would result from an immediate winding up of the company.
The process allows a company a moratorium period from essentially all its creditors whilst the administrator in conjunction with the directors and their advisors, investigates the formulation of a proposal for a Deed of Company Arrangement to maximise the return to creditors.
It provides for a settlement between a company and its creditors. A Deed of Company Arrangement may provide for a company to trade on after re-organisation or cease trading but avoid liquidation.
Bent & Cougle Pty Ltd can act for mortgagees who wish to take possession of specific assets over which they have a charge, with a view to being repaid moneys they have advanced.
With experience derived from administering all types of insolvency appointments we are able to:
• report on the assets and financial position of companies for directors, lenders, debtors and creditors
• provide solvency reports for directors, creditors and litigation purposes
• assist in monitoring a businesses performance and managing a turnaround, and
• assist company boards when there is disagreement about the management and future direction of a company.