We'll listen to you and your accountant to openly assess options to achieve the best possible outcome.

Trusted by directors and their accountants for over 20-years, APL Insolvency is a boutique Melbourne based practice with a proud reputation of helping directors and their accountants through their restructuring options and the insolvency process.

Start With A Free Consultation

Transparent Communication

Highly-Experienced Team

Multi-Option Approach

Even the most intelligent and sensible directors can come up against external market pressures that result in financial hardship.

Early action is crucial to achieving the best outcomes

We know that you and your accountant want to be heard and have a full understanding of your options prior to incurring further costs or formally appointing a business restructuring or insolvency expert.


Almost always, the problem is that external commercial and business forces beyond your control have made it difficult for your business to pay its debts as and when they fall due.

If you do need to engage an expert, it’s incredibly frustrating if the firm you choose ends up keeping you and your accountant out of the process. Your ideas need to be considered and your concerns heard.


With over 20 years of experience across all forms of corporate insolvency, including Voluntary Liquidations, Court Liquidations, External Administrations, Deeds of Company Arrangements (DOCAs) and Receiverships: APL Insolvency is proud to take a different approach.

Start With A Free Options Assessment Consultation

We promise to listen to you and your accountant to openly assess available options in order to achieve the best possible outcomes.

Transparent Communication

We believe in keeping you and your accountant informed about the process. We do this in a way that ensures we remain professional and adhere to all relevant processes, laws and rights of all stakeholders.

Highly-Experienced Team

Facing a potential insolvency situation can be highly stressful. With over 20 years of corporate insolvency experience, we are a boutique Melbourne based firm who seeks to proactively assist directors (and their accountants) through the insolvency process in a friendly & personable manner.

Pre-Engagement Options

We encourage company directors and their accountants to explore their options when faced with potential insolvency in order to achieve the best outcome for all stakeholders.

Our 5 Step Process

Our unique process is designed to ensure we do everything in our power to help our clients return to financial stability.

Initial Discussion

Step 1: Options Assessment Consultation


We meet with the directors and their professional advisors to discuss the company’s existing affairs and available options at the current time.


Together, we’ll go through the company’s business including its assets and liabilities. 


This no risk, cost, or obligation discussion is aimed to provide you with clarity around the available options and what makes the most sense for the directors, the company, and other stakeholders moving forward.

Decision To Proceed

Step 2: Decision To Proceed


The decision about the way forward and whether to proceed with an appointment is always a matter for directors.


If it does make sense to proceed with a formal business restructuring or insolvency appointment, we’ll prepare the necessary documentation to commence via email. 


Once the necessary documents are signed and lodged, our appointment commences.

Appointment

Step 3: Appointment


Once appointed, the ‘appointee’ (liquidator or administrator) takes control of the company and its assets and proceeds with the appointment. What follows largely depends on the circumstances and what makes the most sense flowing from Step 1. Generally:


  • Creditors and other necessary stakeholders will be notified of the appointment.
  • If liquidation:
  1. Assets to be collected and sold, debts collected, potential claims pursued, etc. to realise funds to pay creditors.
  2. Liquidator conducts investigation and reports to the Australian Securities & Investment Commission (ASIC).
  3. If funds are available, dividends are paid to creditors.
  4. Appointment finalised once above processes completed.

  • If voluntary administration:
  1. The administrator decides whether to continue trading or not.
  2. The administrator prepares a report about the company and details any offer directors may wish to make to creditors.
  3. If creditors accept the offer, directors regain control of the company and the administrator collects funds and pay creditors.  If not, the company is placed into liquidation (the company is wound up).

We know the above can be confusing and refers to terms you and your accountant probably don’t come across each day. Please feel free to read further on our website or contact us for a confidential, no-obligation consultation and we’ll explain how everything applies to your specific circumstances.

Open & Transparent Communication

Step 4: Open & Transparent Communication:


Once appointment commences:


  • We deal with all aspects of the winding up and subsequent deregistration of the company, keeping you and your professional advisors fully informed. This includes but is not limited to negotiating with your creditors (where appropriate and relevant).
  • Directors are required to assist the appointee if required, including providing information about the company and all company records;
  • Once initial information and company records have been provided to the appointee (liquidator or administrator), the directors can get on with their lives! All that remains is to assist the liquidator with information or respond to the occasional question as required.

Benefits

Step 5: Benefits:


We do everything in our power to ensure that our clients return to financial stability. We know the position can feel hopeless and the process overwhelming, although it does not have to be this way.


Implementing the options recommended by our team will minimise financial hardship and provide the best prospects for a brighter future.


The benefits of following this approach include:


  • Peace of mind for directors knowing that they are complying with their obligations to act when the company is in trouble.
  • Knowing that the situation is being dealt with via a proven process where you, your accountant and all relevant stakeholders are dealt with properly and transparently
  • Live without the stress of being chased by creditors and regain control again.

About Jack Abeyratne

Jack has had over 20 years’ experience in the insolvency industry and has been a registered liquidator since 2012. 


Jack has been involved in insolvency appointments in a wide range of sectors including hospitality, education, property, transport, IT, construction and engineering. Prior to APL Insolvency, Jack worked at Harrisons Insolvency with his late father William (Bill) Abeyratne, a liquidator and bankruptcy trustee of many years.


Since 2010, Jack has been running APL Insolvency, seeking to provide the best outcome for all stakeholders and provide a service that is both respectful to directors and good for creditors.

Jack Abeyratne

Jack enjoys the challenge of finding solutions to what can often be complex problems.


Jack is a member of the Australian Restructuring Insolvency and Turnaround Association (ARITA), Chartered Accountants Australia and New Zealand (CAANZ) and the Association of Independent Insolvency Practitioners (AIIP).

Our Highly Experienced Team

Australian Restructuring Insolvency and Turnaround Association (ARITA)

Chartered Accountants Australia and New Zealand (CAANZ)

Association of Independent Insolvency Practitioners (AIIP)

Start with A Free Options Assessment Consultation

Our free, no-obligation Options Assessment Consultations offered to directors and their accountants are key to managing negative consequences while enabling you to explore and understand all available options.


If you’re currently experiencing financial difficulties, or are an accountant with a client who is experiencing financial difficulties, contact APL Insolvency today for a free, no obligation options assessment consultation.

Start With A Free Consultation

From Our Learning Centre

Some things to consider when choosing an insolvency firm

By Jack Abeyratne, APL Insolvency • August 26, 2021
The difficulties company directors face when confronted with the possibility of insolvency can be made easier with advice from the right business restructuring and insolvency firm. Often directors feel that they have no choice other than to wind up their company when they might actually have other options. Directors who fail to take appropriate action or simply leave it too late to deal with financial difficulties as they arise might find that their company is forced into liquidation by its creditors. By seeking advice from an experienced and qualified insolvency professional at an early stage, directors may be able to explore options such as appointing a voluntary administrator which might enable the company to continue and the directors to eventually regain control of the business. If that isn’t possible, the right insolvency practitioner can help make it easier for directors to navigate the insolvency process. Here are some things to consider when choosing an insolvency firm - approaches do vary and bigger certainly doesn’t necessarily mean better!

The advantages of voluntary administration

By Jack Abeyratne, APL Insolvency • August 26, 2021
One of the biggest challenges any company can face is the prospect of insolvency. Often companies keep plugging away, getting further and further into debt hoping business will pick up and their finances will improve. However, the longer directors wait to take action to correct their circumstances, the more likely it becomes that an adverse outcome will eventuate. The good news is there is a way to increase the odds of a business remaining operational despite experiencing financial stress: Voluntary Administration. A voluntary administration provides an opportunity for a business to continue while offering a way for directors to pay down outstanding debt in a more manageable fashion. If creditors accept the directors’ offer, a company can continue to trade under the control of the directors. A voluntary administration has the potential to increase the chances of a company overcoming a temporary bump in the road. Here we explain how voluntary administration occurs and some advantages of pursuing this option.

What to discuss with your existing accountant if your company is experiencing financial difficulties

By Jack Abeyratne, APL Insolvency • August 26, 2021
When a company is experiencing financial difficulties, directors often find themselves putting out “spot fires” just trying to stay afloat. Under pressure from creditors, many directors end up making unwise decisions such as extending credit lines, borrowing excessively, drip-feeding funds to creditors just to gain some extra time or simply making promises they know they can’t keep. In desperation, directors may sell their personal assets or borrow from family and friends to raise funds for their company. While possibly gaining some additional time, it is also likely that the above steps may simply serve to delay the inevitable and the company may still find itself in trouble If it is unable to pay its debts as and when due. If that occurs, a creditor or creditors (and especially, the ATO) may well lose patience and take action to wind up the company in court in order to try to recover their unpaid debt. Unfortunately, many directors leave it too late to seek financial advice from an experienced and qualified professional. This often leaves few alternatives for the company other than liquidation. It really is at the first sign of any financial difficulties that it is critical to seek specialist insolvency advice about the options that may be available. It is at that stage when there is the greatest likelihood of an outcome in the interests of all stakeholders. Directors are generally unfamiliar with insolvency procedures and it can be difficult for directors to know where to turn when faced with financial trouble. They might decide to speak to their existing accountant who may be able to assist however, if the company’s existing accountant is unable to help, seeking advice from a qualified insolvency practitioner is likely to be the best approach. If directors know what to discuss with their accountant, it can assist the accountant in providing them with a properly informed opinion and potentially have the benefit of eliminating the need to speak to an insolvency practitioner if appropriate strategies can be implemented at an early stage.
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Contact Us

APL Insolvency

Address:

Level 5, 150 Albert Rd, Sth Melbourne, Vic 3205
P. O. Box 841, Sth Melbourne, Vic 3205

Hours:

Monday - Friday 8:30 am – 6:00 pm

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