Contact<\/a><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section bb_built=”1″ module_class=”hpthreecol” _builder_version=”4.16″ global_colors_info=”{}” prev_background_color=”#f0ece5″ next_background_color=”#f0ece5″][et_pb_row module_class=”hpthreecol newssections” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Pace Lawyers have over 23 years of experience in the field of insolvency and bankruptcy.<\/p>\n If you have run into difficulty with debt you ought to urgently seek expert advice.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section bb_built=”1″ module_class=”hpthreecol ” _builder_version=”4.16″ background_color=”#f0ece5″ global_colors_info=”{}” prev_background_color=”#ffffff” next_background_color=”#ffffff”][et_pb_row column_structure=”2_3,1_3″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”2_3″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”Trading Insolvent” _builder_version=”4.16″ vertical_offset_tablet=”0″ horizontal_offset_tablet=”0″ z_index_tablet=”500″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_text admin_label=”If you have a business…” _builder_version=”4.16″ vertical_offset_tablet=”0″ horizontal_offset_tablet=”0″ z_index_tablet=”500″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” global_colors_info=”{}”]<\/p>\n If you have a business and are having difficulty paying your debts <\/span>as and when they fall due<\/span>, you are likely trading insolvent under the definitions in our insolvency laws.\u00a0<\/span><\/p>\n If a director allows a new debt to be incurred knowing the company is insolvent and unable to pay those debts as and when they fall due for payment, the director may be held personally liable for those company debts. That means the director\u2019s personal assets can then become under siege.<\/span><\/p>\n Trading Insolvent is a contravention of the law.<\/b><\/p>\n A director or business owner may face civil and or criminal charges for breaches of insolvent trading laws.<\/span><\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section bb_built=”1″ module_class=”hpthreecol” _builder_version=”4.16″ global_colors_info=”{}” prev_background_color=”#f0ece5″ next_background_color=”#f0ece5″][et_pb_row _builder_version=”4.16″ global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_text admin_label=”Resolving financial stress” _builder_version=”4.16″ global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ global_colors_info=”{}”]<\/p>\n <\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ global_colors_info=”{}”]<\/p>\n Introduced in 2021 in response to the COVID-19 pandemic, the small business restructuring process\u00a0 allows the directors and management of a company to remain in control. It gives them the opportunity to propose a plan to deal with the company\u2019s\u00a0 debt within a 3 year period and is available to eligible companies.\u00a0<\/span><\/p>\n Contact Pace Lawyers to find out if your company is eligible.<\/b><\/a><\/p>\n <\/p>\n The Turnaround Management process allows a full review of the business with the opportunity to identify underlying issues and reasons for declined performance or financial stress. It also provides for identifying strengths of the business and the development of a turnaround plan to help the business get back on track.<\/span><\/p>\n You should speak to your accountant in conjunction with an experienced insolvency practitioner at Pace Lawyers in relation to developing a plan that works for your business.<\/span><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section bb_built=”1″ module_class=”hpbit” _builder_version=”4.16″ background_color=”#f0ece5″ vertical_offset_tablet=”0″ horizontal_offset_tablet=”0″ z_index_tablet=”500″ box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” global_colors_info=”{}” prev_background_color=”#ffffff” next_background_color=”#ffffff”][et_pb_row _builder_version=”4.16″ max_width=”1080px” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Ask A Question” _builder_version=”4.16″ vertical_offset_tablet=”0″ horizontal_offset_tablet=”0″ text_orientation=”center” module_alignment=”center” z_index_tablet=”500″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” saved_tabs=”all” global_colors_info=”{}”]<\/p>\n Send us an email today.<\/p>\n Contact<\/a><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section bb_built=”1″ module_class=”hpthreecol” _builder_version=”4.16″ global_colors_info=”{}” prev_background_color=”#f0ece5″ next_background_color=”#f0ece5″][et_pb_row _builder_version=”4.16″ global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_text admin_label=”Safe harbour” _builder_version=”4.16″ global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.16″ global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ global_colors_info=”{}”]<\/p>\n Safe Harbour is a process which allows directors a defence against liability for debts of the company business and is codified in Section 588GA of the Corporations Act. It only applies, however, under certain circumstances.<\/span><\/p>\n The crucial elements are:<\/span><\/p>\n Section 588GA(2) lists some guiding factors in determining whether a course of action is reasonably likely to lead to a better outcome for the company than an immediate voluntary administration or liquidation. These factors are whether the director is:<\/span><\/p>\n Directors should bear in mind that the safe harbour protection will not apply if a debt is incurred by an insolvent company when it is not substantially complying with payment of employee entitlements (including superannuation) as and when they fall due and or its taxation compliance obligations.<\/span><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section bb_built=”1″ module_class=”hpthreecol ” _builder_version=”4.16″ background_color=”#f0ece5″ global_colors_info=”{}” prev_background_color=”#ffffff” next_background_color=”#ffffff”][et_pb_row column_structure=”2_3,1_3″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”2_3″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”Covid 19 support” _builder_version=”4.16″ vertical_offset_tablet=”0″ horizontal_offset_tablet=”0″ z_index_tablet=”500″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” global_colors_info=”{}”]<\/p>\n <\/p>\n If your business is suffering financial stress due to the impact of the COVID-19 pandemic, there are programs in place to help with recovery. The Pace Lawyers team is experienced in providing support to struggling businesses and can review the options available to you and provide a recommended course of action.<\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section bb_built=”1″ module_class=”hpthreecol” _builder_version=”4.16″ global_colors_info=”{}” prev_background_color=”#f0ece5″ next_background_color=”#000000″][et_pb_row _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n There are several options for the insolvent business or individual. <\/strong><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”Insolvent Companies” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Common insolvency procedures for an insolvent company<\/strong> are either liquidation,<\/em> entering into a Deed of Company Administration, voluntary administration or receivership.<\/strong><\/p>\n [\/et_pb_text][et_pb_text admin_label=”Liquidation” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n An independent and registered person called a liquidator takes control of the company so that its affairs can be wound up in a structured and fair way for the benefit of all creditors.<\/p>\n [\/et_pb_text][et_pb_text admin_label=”Receivership” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n When a company is experiencing financial difficulty and is unable to meet its debt, a secured creditor (such as a bank) may put the company into receivership.<\/p>\n In this case an independent, qualified person called a receiver is appointed by a secured creditor, or in special circumstances by a court. They will take control of some or all of the company\u2019s assets. <\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”Administration” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n A company with financial problems may be placed into administration. This can be either voluntary, or involuntarily. Voluntary administration is chosen by the directors, whereas involuntary administration is driven by creditors that are owed money for goods or services provided to the company.<\/p>\n [\/et_pb_text][et_pb_text admin_label=”Personal Insolvency” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n The insolvency procedures for an <\/span>insolvent individual are <\/b>bankruptcy and personal insolvency agreements.<\/span><\/p>\n [\/et_pb_text][et_pb_text admin_label=”Bankruptcy” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Bankruptcy occurs when an individual is unable to pay their debts and a trustee is appointed to take over their finances. From then on, the trustee will be the point of contact for your debtors and will usually sell the property of your estate (with some exceptions) to pay your debts. The law governing bankruptcy is the Bankruptcy Act 1966 which applies Australia wide. This act stipulates that a bankruptcy case can be heard by the Federal Court of Australia and the Federal Circuit Court of Australia. The body responsible for personal bankruptcy and insolvency law is the AFSA or the Australian Financial Security Authority.<\/p>\n Bankruptcy typically lasts for three years, after which the bankrupt individual is released from their prior debts and able to make a new start.<\/p>\n Bankruptcy can have long term legal ramifications. If you find yourself facing bankruptcy, get in touch with Pace Lawyers today. One of our very helpful lawyers can help to guide you through your options.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section bb_built=”1″ module_class=”hpthreecol” _builder_version=”4.16″ global_colors_info=”{}” prev_background_color=”#000000″ next_background_color=”#f0ece5″][et_pb_row _builder_version=”4.16″ global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_text admin_label=”How Do I Go Bankrupt?” _builder_version=”4.16″ global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.16″ global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ global_colors_info=”{}”]<\/p>\n There are two ways in which a person can go bankrupt:<\/span><\/p>\n An individual can file for bankruptcy by filing a debtor’s petition with the Official Receiver in Bankruptcy.<\/span><\/p>\n <\/p>\n You can also be made bankrupt when one or creditors successfully petition the Federal Court for a bankruptcy order over your personal estate. This is called a sequestration order.<\/span><\/p>\n If you find yourself in a situation where your debt becomes unmanageable, the first step you should take is to seek financial advice. Bankruptcy should only be considered if you cannot reach an arrangement that will suit.<\/span><\/p>\n Sometimes other arrangements can be reached with your creditors. In the case of a\u00a0 \u201cDeed of Arrangement\u201d the debtor will hand over their affairs to a trustee who will work to provide returns to the creditor. Informal agreements can also be reached with your creditors that can help with your debts.<\/span><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”The Pro\u2019s and Con\u2019s of Bankruptcy” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n The key advantage of bankruptcy is being released from most debts. Your creditors will also not be able to contact you and will have to deal with your trustee.<\/span><\/p>\n Not all of your assets can be sold to meet your debts. You will be able to keep:<\/span><\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Any property you own will vest in the trustee and be sold to meet your debts. Other assets will be taken as well unless exempt (as outlined above).<\/span><\/p>\n Your bankruptcy will appear on your credit record, which will affect your future ability to borrow money.\u00a0<\/span><\/p>\n You will not be able to be the director or manager of a company.\u00a0<\/span><\/p>\n Some occupational licenses will be affected and you will have restricted ability to travel internationally.<\/span><\/p>\n Not all debts are released. You will still have to pay the following:<\/span><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n It is important to take an in-depth review of the situation before delving into the many options available in the bankruptcy context as your family members may also be affected by your bankruptcy.<\/span><\/p>\n We understand these are some of the most stressful times you may go through and we are here to use our skill and expertise in this area to assist.<\/span><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section bb_built=”1″ module_class=”hpbit” _builder_version=”4.16″ background_color=”#f0ece5″ vertical_offset_tablet=”0″ horizontal_offset_tablet=”0″ z_index_tablet=”500″ box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” global_colors_info=”{}” prev_background_color=”#ffffff” next_background_color=”#ffffff”][et_pb_row _builder_version=”4.16″ max_width=”1080px” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Ask A Question” _builder_version=”4.16″ vertical_offset_tablet=”0″ horizontal_offset_tablet=”0″ text_orientation=”center” module_alignment=”center” z_index_tablet=”500″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” saved_tabs=”all” global_colors_info=”{}”]<\/p>\n Get in touch with us if you have any questions.<\/p>\n Contact<\/a><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section bb_built=”1″ module_class=”hpthreecol” _builder_version=”4.16″ global_colors_info=”{}” prev_background_color=”#f0ece5″ next_background_color=”#f0ece5″][et_pb_row _builder_version=”4.16″ global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_text admin_label=”Expert Insolvency Lawyers” _builder_version=”4.16″ global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ global_colors_info=”{}”]<\/p>\n For 23 years, Pace Lawyers has provided advice and representation on all manner of insolvency issues, including:<\/span><\/p>\n We are highly experienced in litigation involving bankruptcy notices, sequestration and winding up orders and applications to set the same aside.\u00a0<\/span><\/p>\n We are instructed by directors, creditors, family members and insolvency practices in relation to these various actions and claims. In particular, we are skilled at successful resolution of claims before court proceedings ensue.<\/span><\/p>\n <\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ global_colors_info=”{}”]<\/p>\n <\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section bb_built=”1″ module_class=”hpbit” _builder_version=”4.16″ background_color=”#f0ece5″ vertical_offset_tablet=”0″ horizontal_offset_tablet=”0″ z_index_tablet=”500″ box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” global_colors_info=”{}” prev_background_color=”#ffffff” next_background_color=”rgba(93,121,117,0.5)”][et_pb_row _builder_version=”4.16″ max_width=”1080px” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Ask A Question” _builder_version=”4.16″ vertical_offset_tablet=”0″ horizontal_offset_tablet=”0″ text_orientation=”center” module_alignment=”center” z_index_tablet=”500″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” saved_tabs=”all” global_colors_info=”{}”]<\/p>\n Send us an email today.<\/p>\n Contact<\/a><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section bb_built=”1″ _builder_version=”4.16″ background_color=”rgba(93,121,117,0.5)” global_colors_info=”{}” prev_background_color=”#f0ece5″ next_background_color=”#f0ece5″][et_pb_row column_structure=”1_3,1_3,1_3″ module_class=”servicesteam” _builder_version=”4.16″ max_width=”1080px” custom_css_main_element=”max-width:1170px;||margin:auto;” global_colors_info=”{}”][et_pb_column type=”1_3″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.22.1″ text_orientation=”center” background_layout=”dark” module_alignment=”center” z_index_tablet=”500″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” 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ul_text_shadow_horizontal_length=”ul_text_shadow_style,%91object Object%93″ ul_text_shadow_vertical_length=”ul_text_shadow_style,%91object Object%93″ ul_text_shadow_blur_strength=”ul_text_shadow_style,%91object Object%93″ ol_text_shadow_horizontal_length=”ol_text_shadow_style,%91object Object%93″ ol_text_shadow_vertical_length=”ol_text_shadow_style,%91object Object%93″ ol_text_shadow_blur_strength=”ol_text_shadow_style,%91object Object%93″ quote_text_shadow_horizontal_length=”quote_text_shadow_style,%91object Object%93″ quote_text_shadow_vertical_length=”quote_text_shadow_style,%91object Object%93″ quote_text_shadow_blur_strength=”quote_text_shadow_style,%91object Object%93″ header_text_shadow_horizontal_length=”header_text_shadow_style,%91object Object%93″ header_text_shadow_vertical_length=”header_text_shadow_style,%91object Object%93″ header_text_shadow_blur_strength=”header_text_shadow_style,%91object Object%93″ header_2_text_shadow_horizontal_length=”header_2_text_shadow_style,%91object Object%93″ header_2_text_shadow_vertical_length=”header_2_text_shadow_style,%91object Object%93″ header_2_text_shadow_blur_strength=”header_2_text_shadow_style,%91object Object%93″ header_3_text_shadow_horizontal_length=”header_3_text_shadow_style,%91object Object%93″ header_3_text_shadow_vertical_length=”header_3_text_shadow_style,%91object Object%93″ header_3_text_shadow_blur_strength=”header_3_text_shadow_style,%91object Object%93″ header_4_text_shadow_horizontal_length=”header_4_text_shadow_style,%91object Object%93″ header_4_text_shadow_vertical_length=”header_4_text_shadow_style,%91object Object%93″ header_4_text_shadow_blur_strength=”header_4_text_shadow_style,%91object Object%93″ header_5_text_shadow_horizontal_length=”header_5_text_shadow_style,%91object Object%93″ header_5_text_shadow_vertical_length=”header_5_text_shadow_style,%91object Object%93″ header_5_text_shadow_blur_strength=”header_5_text_shadow_style,%91object Object%93″ header_6_text_shadow_horizontal_length=”header_6_text_shadow_style,%91object Object%93″ header_6_text_shadow_vertical_length=”header_6_text_shadow_style,%91object Object%93″ header_6_text_shadow_blur_strength=”header_6_text_shadow_style,%91object Object%93″ vertical_offset_tablet=”0″ horizontal_offset_tablet=”0″]<\/p>\n Serina Pace<\/em> Contact Serina<\/a> [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.17.6″ text_orientation=”center” background_layout=”dark” module_alignment=”center” z_index_tablet=”500″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” global_colors_info=”{}”]<\/p>\n Shavin Silva<\/em> Contact Shavin<\/a> [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.17.6″ text_orientation=”center” background_layout=”dark” module_alignment=”center” z_index_tablet=”500″ text_text_shadow_horizontal_length_tablet=”0px” text_text_shadow_vertical_length_tablet=”0px” text_text_shadow_blur_strength_tablet=”1px” link_text_shadow_horizontal_length_tablet=”0px” link_text_shadow_vertical_length_tablet=”0px” link_text_shadow_blur_strength_tablet=”1px” ul_text_shadow_horizontal_length_tablet=”0px” ul_text_shadow_vertical_length_tablet=”0px” ul_text_shadow_blur_strength_tablet=”1px” ol_text_shadow_horizontal_length_tablet=”0px” ol_text_shadow_vertical_length_tablet=”0px” ol_text_shadow_blur_strength_tablet=”1px” quote_text_shadow_horizontal_length_tablet=”0px” quote_text_shadow_vertical_length_tablet=”0px” quote_text_shadow_blur_strength_tablet=”1px” header_text_shadow_horizontal_length_tablet=”0px” header_text_shadow_vertical_length_tablet=”0px” header_text_shadow_blur_strength_tablet=”1px” header_2_text_shadow_horizontal_length_tablet=”0px” header_2_text_shadow_vertical_length_tablet=”0px” header_2_text_shadow_blur_strength_tablet=”1px” header_3_text_shadow_horizontal_length_tablet=”0px” header_3_text_shadow_vertical_length_tablet=”0px” header_3_text_shadow_blur_strength_tablet=”1px” header_4_text_shadow_horizontal_length_tablet=”0px” header_4_text_shadow_vertical_length_tablet=”0px” header_4_text_shadow_blur_strength_tablet=”1px” header_5_text_shadow_horizontal_length_tablet=”0px” header_5_text_shadow_vertical_length_tablet=”0px” header_5_text_shadow_blur_strength_tablet=”1px” header_6_text_shadow_horizontal_length_tablet=”0px” header_6_text_shadow_vertical_length_tablet=”0px” header_6_text_shadow_blur_strength_tablet=”1px” box_shadow_horizontal_tablet=”0px” box_shadow_vertical_tablet=”0px” box_shadow_blur_tablet=”40px” box_shadow_spread_tablet=”0px” global_colors_info=”{}”]<\/p>\n Keith Bennetts<\/em> Contact Keith<\/a><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_4,1_4,1_4,1_4″ module_class=”servicesteam” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_column][et_pb_column type=”1_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section bb_built=”1″ module_class=”hpbit” _builder_version=”4.16″ background_color=”#f0ece5″ global_colors_info=”{}” prev_background_color=”rgba(93,121,117,0.5)” next_background_color=”#000000″][et_pb_row _builder_version=”4.16″ max_width=”1080px” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.16″ text_orientation=”center” module_alignment=”center” global_colors_info=”{}”]<\/p>\n If you are interested in working together, send us an enquiry and weInsolvency & Bankruptcy<\/h2>\n
Trading Insolvent<\/h2>\n
What are the penalties for insolvent trading?<\/b><\/h4>\n
![\"Debt-recovery-lawyer-adelaide\"](\"https:\/\/paceadelaidelegal.com.au\/wp-content\/uploads\/2023\/09\/48467259_s.png\")
<\/p>\nResolving Financial Stress\u200b<\/h2>\n
\u200b<\/h2>\n
![\"Debt-collection-experts\"](\"https:\/\/paceadelaidelegal.com.au\/wp-content\/uploads\/2023\/09\/106660826_s.png\")
<\/p>\nSmall Business Restructuring Process<\/strong><\/h3>\n
Business Turnaround Management<\/b><\/h3>\n
Have A Question About Bankruptcy Or Insolvency?<\/h2>\n
Safe Harbour<\/h2>\n
\n
\n
COVID-19 Support<\/b><\/h2>\n
![\"\"](\"https:\/\/paceadelaidelegal.com.au\/wp-content\/uploads\/2023\/09\/directors-duties2-300x300.png\")
<\/p>\nThe options for insolvent businesses or individuals<\/h2>\n
Insolvent Companies<\/h3>\n
Liquidation<\/h3>\n
Receivership<\/h3>\n
\nWhat will the receiver do?<\/p>\n\n
Administration<\/h3>\n
Personal Insolvency<\/h3>\n
Bankruptcy<\/h3>\n
How Do I Go Bankrupt?<\/h2>\n
Voluntary Bankruptcy<\/strong><\/h4>\n
Forced bankruptcy<\/strong><\/h4>\n
The Pro\u2019s and Con\u2019s of Bankruptcy<\/h2>\n
Pro\u2019s<\/b><\/h3>\n
\n
Con\u2019s<\/b><\/h3>\n
\n
Talk To A Pace Bankruptcy Lawyer<\/h2>\n
Expert Insolvency Lawyers<\/h2>\n
\u200b<\/h2>\n
\n
![\"\"](\"https:\/\/paceadelaidelegal.com.au\/wp-content\/uploads\/2023\/09\/Directors-Duties1_s-300x286.png\")
<\/p>\nHave A Question About Bankruptcy Or Insolvency?<\/h2>\n
![\"Principal](\"https:\/\/paceadelaidelegal.com.au\/wp-content\/uploads\/2022\/01\/Serina-Headshot.png\")
<\/p>\n
Legal Director<\/p>\n
<\/i><\/p>\n![\"Shavin](\"https:\/\/paceadelaidelegal.com.au\/wp-content\/uploads\/2022\/01\/Shavin-Headshot-768x768.png\")
<\/p>\n
Special Counsel<\/p>\n
<\/i><\/p>\n![\"Keith](\"https:\/\/paceadelaidelegal.com.au\/wp-content\/uploads\/2022\/01\/Keith-Headshot-768x768.png\")
<\/p>\n
Consultant<\/p>\nBe in touch<\/h2>\n
will get back to you as soon as we can.<\/p>\n
![\"\"](\"https:\/\/paceadelaidelegal.com.au\/wp-content\/uploads\/2021\/10\/WIL21_finalists__Legal-Operations-Professional-of-the-Year-1.png\")
<\/p>\n![\"\"](\"https:\/\/paceadelaidelegal.com.au\/wp-content\/uploads\/2021\/06\/FBA_Emblem_Reversed-300x148.jpeg\")
<\/p>\n![\"\"](\"https:\/\/paceadelaidelegal.com.au\/wp-content\/uploads\/2022\/10\/Website-Version-Small-768x343.png\")
<\/p>\n![\"\"](\"https:\/\/paceadelaidelegal.com.au\/wp-content\/uploads\/2021\/06\/Quality-ISO-9001-PMS302-134x300.jpeg\")
<\/p>\n