Kazar Slaven - Chartered Accountants Insolvency Practitioners At Canberra (1)

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About Kazar Slaven

• Kazar Slaven offers professional services and
  advice to companies and individuals in Canberra
  and throughout the East Coast of Australia who
  are facing financial difficulty, as well as
  specialist advice to creditors, banks and
  financial institutions. Combined, our senior
  staff have over 80 years experience in the
  industry, ensuring that you receive the very best
  advice to assist in your accounting and
  insolvency issues.
• 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.

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Our Team

• We have team of professionals
• Hanry Kazar
• Michael Slaven
• Lyndell Kazar
• Courtney Kazar
• Aaron Torline
• Amanda Webb
• Cathy Wang
• Claire Demaine
• Daniel del Rio

• Jack Steedman
• Jacquie Howard
• Lachlan Abbott
• Melissa Lucas
• Michael Lawless
• Nicholas Polhill
• Stanley Pineda
• Tim Womack

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Corporate Insolvency

• At corporate insolvency we have
• Voluntary Administration
• Deed of Company Arrangement
• Creditors Voluntary Liquidation
• Court / Official Liquidation
• Provisional Liquidation
• Corporate Receivership
• Members Voluntary Liquidation

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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 companys continuation or provides an
  outcome resulting in better return for the
  companys creditors rather than immediate
  wind-up.
• A companys directors initiate voluntary
  administration in writing. It is then the
  administrators responsibility to convene an
  initial meeting with creditors within eight
  business days where the creditors have the right
  to replace the administrator. An investigation is
  then done and a second meeting is called to
  determine the companys future.

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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, its necessary for the
  administrator to demonstrate that the likely
  result would produce a better outcome than the
  winding up of the company.
• The DOCA binds the deed administrator, the
  company and its officers and members, and for the
  duration of the DOCA, the company will be
  required to show the words subject to deed of
  company arrangement on every public document.

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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 companys creditors or they may
  nominate and vote for the appointment of an
  alternate liquidator.
• The role of the liquidator is to realise the
  assets of the company and distribute those assets
  equitably amongst the creditors, conduct an
  investigation in order to determine whether all
  of the assets have been properly accounted for
  and determine whether there are any transactions
  which may be recoverable by a liquidator for the
  benefit of creditors.

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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
  companys assets, and to conduct an
  investigation. The primary task of the liquidator
  in both cases is to protect the interests of
  unsecured creditors.
• The failure of a company to comply with a
  statutory demand is the most common ground for an
  application for winding up for example, the
  creditor will issue a statutory demand and the
  debtor company fails to comply within 21 days
  after service. This evidence is put before the
  court to demonstrate the companys insolvency.

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Contact Us

• Address Level 3 Engineering House 11 National
  Circuit Barton ACT 2600 GPO Box
  138 Canberra ACT 2601
• Telephone [phone]
• Facsimile  61 2 6215 8450
• Email info_at_kazarslaven.com.au
• Website http//www.kazarslaven.com.au/