Accountants and Accounting Practice Service Canberra

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CHARTERED ACCOUNTANTS INSOLVENCY PRACTITIONERS
Call 61 2 6285 1310

• www.kazarslaven.com.au

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Call 61 2 6285 1310

• 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.

www.kazarslaven.com.au
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ABOUT US
Call 61 2 6285 1310

• 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.

www.kazarslaven.com.au
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OUR TEAM
Call 61 2 6285 1310
Continued
www.kazarslaven.com.au
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OUR TEAM
Call 61 2 6285 1310

• Henry Kazar
• Michael Slaven
• Lyndell Kazar
• Courtney Kazar
• Aaron Torline
• Amanda Webb
• Cathy Wang
• Claire Demaine
• Daniel del Rio
• Jack Steedman
• Nicholas Polhill
• Michael Lawless
• Melissa Lucas
• Lachlan Abbott
• Jacquie Howard
• Stanley Pineda
• Tim Womack

www.kazarslaven.com.au
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CORPORATE INSOLVENCY
Call 61 2 6285 1310

• Voluntary Administration
• Deed of Company Arrangement
• Creditors Voluntary Liquidation
• Court / Official Liquidation
• Provisional Liquidation
• Corporate Receivership
• Members Voluntary Liquidation

www.kazarslaven.com.au
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Voluntary Administration
Call 61 2 6285 1310

• 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.

www.kazarslaven.com.au
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Deed of Company Arrangement
Call 61 2 6285 1310

• 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.
• 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.

www.kazarslaven.com.au
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Creditors Voluntary Liquidation
Call 61 2 6285 1310

• 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.
• 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.

www.kazarslaven.com.au
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Court / Official Liquidation
Call 61 2 6285 1310

• 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.

www.kazarslaven.com.au
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Provisional Liquidation
Call 61 2 6285 1310

• 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.

www.kazarslaven.com.au
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Corporate Receivership
Call 61 2 6285 1310

• 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 receivers 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.

www.kazarslaven.com.au
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Members Voluntary Liquidation
Call 61 2 6285 1310

• The purpose of liquidation of an insolvent
  company is to enable a fair form of distribution
  of the companys assets amongst its creditors,
  and to enable an investigation of the companys
  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.

www.kazarslaven.com.au
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PERSONAL INSOLVENCY
Call 61 2 6285 1310

• Bankruptcy
• Personal Insolvency Agreements
• Part IX Debt Agreements

www.kazarslaven.com.au
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Bankruptcy
Call 61 2 6285 1310

• Bankruptcy of an individual (referred to as a
  debtor), joint debtors, or debtors in partnership
  is initiated either voluntarily or by court order
  on the application of a creditor. In these
  matters one of the Kazar Slaven partners would be
  appointed as trustee of the bankrupt estate.
• The role of the trustee is to recover a
  bankrupts property (with certain limits) and
  divide the proceeds of sale among creditors in
  accordance with the Bankruptcy Act 1966 (the Act).

www.kazarslaven.com.au
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Personal Insolvency Agreements
Call 61 2 6285 1310

• Part X (10) of the Bankruptcy Act 1966 provides
  for arrangements with creditors as an alternative
  to a debtor becoming bankrupt. In most cases, a
  PIA proposal will provide for a greater return to
  creditors than what would be expected if a debtor
  were to become bankrupt.
• PIAs are very flexible and may involve a lump
  sum payment provided by a third party to
  creditors, transfer of assets to creditors or the
  proceeds from asset sales to creditors or a
  repayment arrangement.

www.kazarslaven.com.au
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Part IX Debt Agreements
Call 61 2 6285 1310

• As an alternative to bankruptcy, the Bankruptcy
  Act 1966 provides for debtors unable to pay their
  debts to propose a debt agreement arrangement
  with their creditors.
• A debt agreement is administered by a registered
  debt agreement administrator and will usually
  provide for a greater return to creditors than
  what would be expected under bankruptcy.

www.kazarslaven.com.au
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Business Advisory
Call 61 2 6285 1310

• Insolvency is generally defined as a financial
  state in which a company can no longer pay its
  bills and other obligations on time.
• Kazar Slaven provides two types of insolvency
  services corporate and personal.
• Corporate insolvency services include Voluntary
  Administration, Deed of Company Arrangement,
  Members Voluntary Liquidation, Creditors
  Voluntary Liquidation, Court/Official
  Liquidation, Provisional Liquidation and
  Corporate Receivership.
• Kazar Slavens personal insolvency services
  include Bankruptcy, Personal Insolvency
  Agreements (PIA), Part IX Debt Agreements
  Forensic Accounting and Business Consulting
  Services.

www.kazarslaven.com.au
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Contact Us
Call 61 2 6285 1310

• Chartered Accountants / Insolvency Practitioners
• 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

www.kazarslaven.com.au