Victoria acted for the de facto partner of a self-employed business owner, whose business was insolvent.
Without any contribution from her former partner, our client had spent 12 months servicing the debts of the business following separation. Following an initial conference, accounting professionals were consulted who agreed liquidation of the company would assist and enable our client to cease having to continue to service those debts personally.
Tactically once the liquidation was appointed, a mediation including the liquidator was convened to ensure all aspects of the property dispute, including the liquidation, could be finalised. A negotiated outcome was achieved whereby the business debts were finalised with the liquidator, including all personal liabilities, and the property settlement was finalised as well.
The use of the liquidation ensured our client’s liabilities for the business debts were properly considered and minimised. Along with resolving all aspects to ensure the client achieved complete finality.