INSOLVENCY AND RECOVERY
With strengths in: debt
recovery, insolvency (personal and corporate) and
letters of demand.
AGS is the leader in legal services provided to
government in the areas of insolvency and debt recovery.
There are many areas where insolvency can affect
government. They include litigation claims by government,
the impact of insolvency on contractual obligations
and claims brought by liquidators and trustees for
the setting aside of transactions. Significant issues
can also arise in respect of government funding to
meet the claims of creditors, for example employees
and insurance policyholders.
We have experience in bankruptcy and winding
up proceedings and in acting for trustees and liquidators
in post-insolvency proceedings. We are also experienced
in advising on general debt recovery options, including
the use of Mareva injunctions and tracing of funds,
and the recovery of civil penalties. AGS can advise
on the debt management obligations of agencies under
the Financial Management and Accountability Act
1997 in relation to the recovery and write-off
of debt.
AGS has provided significant advice and litigation
services in this area to the Insolvency and Trustee
Service Australia, the Australian Taxation Office,
the Australian Customs Service, Centrelink, the Child
Support Agency, the Australian Prudential Regulation
Authority and the Australian Competition and Consumer
Commission. In particular, we are experienced in
the various statutory provisions for recovery and
write-off contained in the legislation for various
agencies.
Our services include comprehensive advice and assistance
on:
- whether debts are recoverable or cost-effective
to pursue in terms of the statutory obligations
under the Financial Management and Accountability
Act
- recovering overpayments, statutory charges,
levies, penalties and costs – this can include
the economic recovery of high-volume debt
- the effect on particular transactions or litigation
proceedings of bankruptcy and Part X arrangements
of individuals, and the effect of liquidations
and Part 5.3A administration of companies
- dealing with liquidators and trustees on issues
such as the attendance at meetings of creditors,
making claims for set-off, lodging proofs of debt,
claiming rights of subrogation and assessing litigation
funding proposals where government indemnities
are sought
- defending claims made on government agencies
by liquidators and trustees for recovery of moneys,
as preferences or through setting aside of other
voidable transactions
- acting for trustees and liquidators in insolvencies,
including where government interests are at stake
- advising of the effect of personal insolvency
on employment or other engagement of individuals
- recovering debt through bankruptcy and liquidation
processes, including the use of Mareva type orders
to restrain assets of the debtor
- the drafting of contracts to protect government
agencies in the event of the other party’s
insolvency
- advising on policy and reform issues associated
with insolvency, including in the interaction of
insolvency with employee entitlements, family law,
insurance and tax.
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