The Bankrupt was declared bankrupt via a Creditor’s Petition due to unpaid taxation liabilities. Investigations revealed that the Bankrupt was a beneficiary of a deceased estate with substantial unrealised assets. To realise the Bankrupt’s interest in the deceased estate for the benefit of creditors, the Trustee was required to initiate legal proceedings.  

Anna managed the Supreme Court proceedings to enable a deceased estate to be administered. This involved a complex forensic analysis of the deceased estate and transactions within the same over an extended period. Complex dealings and investigations were required to agree to distribute>$1m to the bankrupt estate.

This resulted in a dividend of 100 cents in the dollar to be paid to creditors, leading the bankruptcy to be annulled.

CorCordis was appointed as Liquidator of a commercial flooring company.

Investigations revealed that the Company entered into a sale of business and asset agreement (the agreement) prior to the appointment of Cor Cordis. Anna undertook significant investigations in relation to the agreement and identified significant claims of>$1.5m against the Director and an associated entity for transactions entered that were not in the interest of the Company.

Anna entered negotiations to settle the claims, and ultimately, a settlement was reached, avoiding the increased costs associated with litigating such claims, which resulted in a dividend to unsecured creditors.

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Bankruptcy was declared via a Creditor’s Petition due to failed personal guarantees in respect of associated entities. The following investigations were complex and impeded by various parties failing to provide information and documents to assist in the investigations.

Anna undertook detailed and complex investigations in relation to the sale of real property owned by the Bankrupt both before and after our appointment to related parties. The Bankrupt and related parties attempted to structure the property sales so that the stated consideration was not paid. This resulted in the Trustee being able to assert an antecedent transaction claim against the purchaser.

To pursue the claim, the Trustee was required to initiate legal proceedings. Anna managed the Federal Circuit Court proceedings which were protracted and defended by the purchaser. The matter proceeded to trial and the Trustee was successful in obtaining a judgment debt order against the purchaser for >$327k.

This resulted in a return being to be made to unsecured creditors.

An individual had unpaid debts from a past business venture that had failed, and her creditors were pursuing payment through the courts. Their goal was to a bankrupt to maintain their current business activities. After seeking appropriate advice on their options, Cor Cordis was appointed to act as her controlling Trustee and put a PIA proposal to her creditors.

Under the proposal, the individual would pay a portion of their debts over six months funded by a family member. Anna worked with them, their lawyers, and the void becoming creditors, and provided a detailed report and recommendations to creditors regarding the merits and effect of the PIA proposal.

The creditors accepted the individual’s PIA proposal. As a result, the individual was able to avoid bankruptcy and continue with their current business interests whilst dealing with their previous business debts.

A creditor was pursuing an individual for a debt from a previous business. They otherwise had very few debts. The creditor was unwilling to discuss any kind of settlement without an independent party fully assessing the individual’s financial position.

The individual found the matter stressful and concerned about its impact on their mental health and future business arrangements. After obtaining appropriate advice to address matters with the creditor, the individual decided to file a Debtor’s Petition for their own bankruptcy with the intention that they would propose a composition to his creditors within the first six months of their bankruptcy.

Anna investigated their financial affairs and determined that the bankruptcy would likely result in a minimal return to the individual’s creditors. With the help and support of their family, the individual prepared a composition proposal for his creditors to consider. Anna assessed the proposal and provided a recommendation to creditors, comparing the proposal against continuing with the bankruptcy. The creditor agreed to the individual’s proposal, and consequently, their bankruptcy was annulled, allowing them to move forward with a fresh start.

VA/DOCA of an entity that operated four café’s throughout Melbourne and the Sunshine Coast.

Anna provided oversight of the trading operations, investigations, key stakeholder management and implementation of cost minimisation and restructuring options.

Anna worked with the Company director and his advisors to obtain a DOCA proposal that provided for payment to priority creditors in full and a return to unsecured creditors. This enabled the Company to continue to trade and restructure post-execution of the DOCA.

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