Olvera Bankruptcy Advice

Insolvency Service

Olvera believes in creating an environment for entrepreneurial activity to thrive

and reducing the stigma of business failure, we consider that a fear of failure impedes innovation.

However, sometimes debt consolidation and debt management strategies are not enough. Complexities and circumstances sometimes dictate that a Voluntary Administration process or a wind down via a Liquidation process is unavoidable. At Olvera, we have experience in solving complex issues in distressed environments. We take the time to understand the complexity of stakeholders needs and the importance of value preservations strategies in Voluntary Administration or Liquidation scenarios.

What is Voluntary Administration?

Voluntary Administration is a process initiated by directors when they believe that a company is or is likely to become insolvent. The Voluntary Administration is a business restructuring process that is governed by the Corporations Act. It gives the company a moratorium with its creditors so that the company can be saved, or a plan implemented for an orderly sale of business assets.

What is Liquidation?

Liquidation is a process that can be initiated by the directors or a creditor. Unlike a Voluntary Administration process, a business liquidation process is initiated when a company cannot be saved (not even by Olvera). A Liquidator is appointed to sell the company assets.