Legal
Insolvency & Debt Recovery
Contested insolvency, creditor protection and debt recovery proceedings.
Legal Advisory
Full-service commercial legal capability through Corson Fiske ILP.
Overview
How we help.
Insolvency-related litigation combines procedural complexity with high commercial stakes. Statutory demands, winding-up applications, voidable transaction claims and contested DOCA proposals all require rapid, technically precise action from counsel who understand how insolvency practitioners and the Court actually operate.
Corson Fiske acts through Corson Fiske ILP for creditors, debtors, liquidators, administrators and their stakeholders in contested insolvency matters. Our work is closely integrated with the firm’s restructuring and turnaround practice.
We act for creditors pursuing recovery as well as directors and companies defending claims.
Capabilities
- Statutory demands and winding-up applications
- Voidable transaction and unfair preference claims
- Uncommercial transaction proceedings
- Creditor representation in VA and DOCA processes
- Bankruptcy proceedings and sequestration
- Secured creditor enforcement
- Public examinations
- Cross-border insolvency matters
Client Situations
When clients engage us.
The issues that bring clients through our door tend to fall into familiar patterns.
A statutory demand has been served or needs issuing
A statutory demand requires response within strict timeframes or is the preferred recovery tool.
A voidable transaction claim has arisen
A liquidator is pursuing or the client is defending a preference or uncommercial transaction claim.
A creditor needs to protect its position
A significant creditor needs representation in a VA, DOCA or liquidation process.
Enforcement action is required
A secured or unsecured creditor needs to enforce rights quickly.
A regulator has opened an investigation
ASIC, the ACCC, a state regulator or an industry body has commenced inquiries. Privileged legal counsel is required immediately.
A counterparty has breached a material contract
A significant commercial relationship has broken down and the legal options — from negotiation through to contested proceedings — need to be assessed.
Outcomes
What you can expect.
- Recovered debts through the most efficient procedural pathway
- Defended voidable transaction and preference claims
- Protected creditor positions in contested processes
- Enforcement outcomes aligned to commercial priorities
Deeper Reading
Key considerations in insolvency and debt recovery
Insolvency law in Australia operates through the Corporations Act for companies and the Bankruptcy Act for individuals, supplemented by the Personal Property Securities Act for secured creditor rights. The procedural rules are technical, the timeframes are tight, and the strategic choices are often irreversible once made.
For creditors, the fundamental decision is usually between enforcement, statutory demand, court wind-up and participation in a voluntary administration or liquidation. Each path has different costs, timing and recovery prospects. The right choice depends on factors including the debtor’s asset position, the existence of security, the presence of voidable transactions, and the practical commercial relationship between the parties.
For debtors, the defensive strategies include compromise negotiation, setting aside statutory demands, resisting wind-up applications, and restructuring through voluntary administration, safe harbour or small business restructuring. We act for both creditors and debtors, and frequently for liquidators, administrators and other practitioners on technical or contested matters.
Questions we are often asked
How long do I have to set aside a statutory demand?
A statutory demand must be complied with, or an application to set it aside filed, within 21 days of service. This period cannot be extended. Failure to act within the window creates a statutory presumption of insolvency and exposes the company to wind-up.
What is the relation-back period for voidable transactions?
For unfair preferences, the period is typically six months before the relation-back day (usually the commencement of the winding up). For uncommercial transactions and directors’ related-party preferences, longer periods apply. Liquidators must commence proceedings within three years of the relation-back day, subject to court extension.
Can a secured creditor enforce despite a voluntary administration?
Chapter 5 of the Corporations Act imposes a moratorium on creditor action during voluntary administration, but secured creditors holding security over substantially the whole of a company’s property are not subject to the moratorium if they enforce within the decision period. The mechanics are technical and timing-sensitive.
Client Success
Outcomes from recent engagements.
Indicative results from engagements within this practice area. Client details have been anonymised; outcomes reflect actual matters completed by the firm.
$15M
Dispute Resolved
Construction dispute
Acted for a property developer in a contested Security of Payment matter, achieving a $15M favourable settlement on the eve of adjudication.
Property developer
AFSL Granted
90 days
Licensing application
Prepared and lodged an AFSL application for a fintech client that was granted within ASIC’s service standard of 90 days with no requisitions.
Fintech startup
Retained TM
Bad-faith opposition
Section 62A opposition
Successfully opposed a bad-faith trade mark application under section 62A of the Trade Marks Act 1995, protecting a registered Australian consumer brand.
Consumer brand
Why Corson Fiske
Experience where it counts.
Clients engage Corson Fiske because they need advice they can act on — delivered by senior practitioners who understand both the technical detail and the commercial consequences. Every engagement is led by a partner with direct experience in complex legal matters.
Our integrated structure means tax, legal, accounting and advisory questions are resolved within a single firm. For clients operating across Australia, Asia, New Zealand or Asia, our office network in Sydney, Melbourne, Perth, Singapore and Auckland provides consistent advice across jurisdictions.
Our Approach
A refined four-phase method for every engagement.
Corson Fiske applies the same disciplined framework to every matter, regardless of scale. The phases below are not a marketing device — they are the actual structure our partners use to move clients from uncertainty to resolution.
Phase One
01
Understand
A confidential partner-led briefing to establish the facts, commercial drivers, timing pressures and stakeholder dynamics.
- Confidential scoping conversation
- Document and data review
- Stakeholder mapping
- Initial risk identification
Phase Two
02
Analyse
Structured technical and commercial analysis of every realistic option, with a clear view of risks, costs and likely outcomes.
- Technical legal and tax analysis
- Commercial modelling
- Risk-weighted options assessment
- Precedent and market benchmarking
Phase Three
03
Recommend
A written partner recommendation in plain English — not a list of caveats. We stand behind our advice and explain our reasoning.
- Clear written recommendation
- Implementation sequencing
- Stakeholder communication plan
- Contingency and fallback positions
Phase Four
04
Execute
Hands-on delivery of the agreed plan with partner oversight, regular milestone reporting and clear handback at completion.
- Implementation leadership
- Stakeholder engagement
- Milestone tracking and reporting
- Completion review and handback
Key Considerations
What clients need to know.
Engaging external advisors on any significant matter raises practical questions about scope, timing, cost and outcomes. We believe in being straightforward about each of these from the first conversation.
How engagements typically begin
Every engagement starts with a confidential initial conversation — usually 30 to 60 minutes — in which we listen to the situation, ask the questions needed to understand it properly, and share a view on whether and how we can help. There is no charge for this conversation and no obligation to proceed.
How we scope and price work
We prefer fixed-fee or capped-fee arrangements wherever the scope allows. Where the scope is genuinely uncertain — as in contested matters — we agree hourly rates upfront and provide regular fee updates against defined phases. We do not bill for internal discussions, file opening or routine administration.
Who you will work with
Every engagement is led by a partner with direct experience in the matter type. That partner remains your primary point of contact throughout. Specialist colleagues join the team where their expertise is required, but you will never be passed from person to person or find the partner you hired is no longer on the file.
How we handle confidentiality and privilege
All engagements are subject to strict confidentiality. Where legal advice is being delivered, it is provided through our incorporated legal practice and attracts legal professional privilege. We take document security, information handling and communications discipline seriously on every matter.
Get the right advice from Corson Fiske.
Confidential, no-obligation initial consultations with a partner who specialises in complex legal matters.