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
and Border Protection 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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