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CHARTERED ACCOUNTANTS INSOLVENCY PRACTITIONERS http://www.kazarslaven. com.au

Kazar Slaven - Chartered Accountants & Insolvency Practitioners

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Kazar Slaven is a leader in the accountancy sector with extensive knowledge of the Canberra region and a depth of resources. We have an extensive staff team and are focused on business problem solving and insolvency issues.

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Page 1: Kazar Slaven - Chartered Accountants & Insolvency Practitioners

CHARTERED ACCOUNTANTS INSOLVENCY PRACTITIONERS

http://www.kazarslaven.com.au

Page 2: Kazar Slaven - Chartered Accountants & Insolvency Practitioners

ABOUT US• Kazar Slaven is a leader in the accountancy sector with

extensive knowledge of the Canberra region and a depth of resources. We have an extensive staff team and are focused on business problem solving and insolvency issues.

• We take an analytical approach to the problem to find the best practical solution for the stakeholders.

• Our work includes dispute resolution amongst shareholders and business partners who are at odds. We provide independent, unbiased advice on the way forward.

Page 3: Kazar Slaven - Chartered Accountants & Insolvency Practitioners

We Have a Team of Professionals

Page 4: Kazar Slaven - Chartered Accountants & Insolvency Practitioners

Henery Kazar

Michael Slaven

Lyndell Kazar Courtney Kazar Aaron Torline

Amanda Webb Cathy Wang Claire Demaine Daniel del Rio Jack Steedman

OUR TEAM

Page 5: Kazar Slaven - Chartered Accountants & Insolvency Practitioners

Jacquie Howard Lachlan Abbott Melissa Lucas Michael Lawless Nicholas Polhill

Stanley Pineda Tim Womack

OUR TEAM

Page 6: Kazar Slaven - Chartered Accountants & Insolvency Practitioners

CORPORATE INSOLVENCY

• VOLUNTARY ADMINISTRATION• DEED OF COMPANY ARRANGEMENT• CREDITORS’ VOLUNTARY LIQUIDATION• COURT / OFFICIAL LIQUIDATION• PROVISIONAL LIQUIDATION• CORPORATE RECEIVERSHIP• MEMBERS’ VOLUNTARY LIQUIDATION

Page 7: Kazar Slaven - Chartered Accountants & Insolvency Practitioners

VOLUNTARY ADMINISTRATION

• In Voluntary Administration, a Kazar Slaven partner, individually or jointly, acts as an administrator to investigate and determine the possible future for a company.

• Voluntary administration allows the business, property and affairs of a company to be administered in a way that maximises the chances of a company’s continuation or provides an outcome resulting in better return for the company’s creditors rather than immediate wind-up.

Page 8: Kazar Slaven - Chartered Accountants & Insolvency Practitioners

DEED OF COMPANY ARRANGEMENT

• In a Deed of Company Arrangement (DOCA), the creditors of a company appoint one of the Kazar Slaven partners to act as the deed administrator.

• DOCA offers creditors the potential of greater return than if the company were to be placed into liquidation. This can be achieved in a number of ways; for example, the contribution from directors or members or the injection of capital by an investor or purchaser. For creditors to accept a DOCA proposal, it’s necessary for the administrator to demonstrate that the likely result would produce a better outcome than the winding up of the company.

Page 9: Kazar Slaven - Chartered Accountants & Insolvency Practitioners

CREDITORS’ VOLUNTARY LIQUIDATION• The Kazar Slaven partners, individually or jointly, act as

liquidator to investigate that all the assets of the company have been accounted for and distributes those assets amongst the creditors.

• This method of winding up an insolvent company is commenced by the shareholders, however the appointment of the liquidator may either be ratified by the company’s creditors or they may nominate and vote for the appointment of an alternate liquidator.

Page 10: Kazar Slaven - Chartered Accountants & Insolvency Practitioners

COURT / OFFICIAL LIQUIDATION• This process of winding up an insolvent company involves the

court making a winding up order and appointing the Kazar Slaven partners, individually or jointly, as the Official Liquidator. An application for such an order is usually made by a creditor but may be made by the members, a liquidator or ASIC.

• The role of the Official Liquidator is the same as in a Creditors’ Voluntary Liquidation, ie to wind up the affairs, distribute equitably the company’s assets, and to conduct an investigation. The primary task of the liquidator in both cases is to protect the interests of unsecured creditors.

Page 11: Kazar Slaven - Chartered Accountants & Insolvency Practitioners

PROVISIONAL LIQUIDATION

• Provisional Liquidation is an interim step that preserves the assets of a company, pending the hearing of an application for winding up.

• In these circumstances one of the Kazar Slaven partners is appointed Provisional Liquidator by the court. A creditor will usually be the applicant, however a member may seek the appointment of a Provisional Liquidator if there is concern that the directors are acting improperly.

Page 12: Kazar Slaven - Chartered Accountants & Insolvency Practitioners

CORPORATE RECEIVERSHIP

• In these circumstances one of the Kazar Slaven partners is appointed as Receiver by a secured creditor or by the court on the application of a person who seeks to protect their interests. The most common form of private appointment of a receiver occurs where a secured creditor holds a fixed and floating charge over the assets of a company.

• When appointed, a receiver’s role will be to administer the property subject to the charge and to realise it for the benefit of the party entitled to it, usually the secured creditor.

Page 13: Kazar Slaven - Chartered Accountants & Insolvency Practitioners

MEMBERS’ VOLUNTARY LIQUIDATION• The purpose of liquidation of an insolvent company is to

enable a fair form of distribution of the company’s assets amongst its creditors, and to enable an investigation of the company’s affairs with the view to determining the circumstances leading to the winding up.

• For Members’ Voluntary Liquidation, the Kazar Slaven partners, individually or jointly, act as the liquidator to wind up the affairs of the company.

Page 14: Kazar Slaven - Chartered Accountants & Insolvency Practitioners

CONTACT USChartered Accountants / Insolvency

PractitionersAddress: Level 3 Engineering

House11 National CircuitBarton ACT 2600

GPO Box 138Canberra ACT 2601

Telephone: 61 2 6285 1310

Facsimile: 61 2 6215 8450

Email: [email protected]