The director’s independent guardian when a business is in distress.

We act for directors. Not liquidators. Not creditors.

Most of the advisors who enter the room when a company is in distress have a statutory duty to someone else. Liquidators and voluntary administrators act in the interests of creditors as a whole — that is their job, and it is a job they do well. But it means that directors facing a deteriorating position rarely have anyone in the room whose sole focus is their position, their exposure and the options genuinely available to preserve value.

Corson Fiske exists to fill that gap. We are the independent guardian directors call when they need partner-led advice before — and sometimes instead of — a formal insolvency appointment. Our role is to assess the position honestly, stress-test the options, protect director exposure through proper documentation and process, and negotiate with lenders, the ATO and other stakeholders from a position of preparation rather than desperation.

The earlier directors bring us in, the more options remain available. Safe harbour protection, small business restructuring, consensual refinancing, trade sales, management buy-outs, debt-for-equity arrangements and creative DOCA structures are all realistic pathways when action is taken early enough. By the time a liquidator is appointed, most of those options are gone.

Where we can act — and where liquidators cannot

Because Corson Fiske is not a liquidator and has no statutory appointment, we can act in situations that are closed to insolvency practitioners. This is not a marginal point — it is the central reason sophisticated directors, lenders and lawyers engage us.

• Pre-appointment advisory. We advise directors before any formal appointment is contemplated, when liquidators cannot engage without creating an expectation of appointment.
• Conflicted matters. Where the liquidator of a related entity has conflicts, we can act independently for directors on parallel matters.
• Safe harbour engagements. As appropriately qualified advisors under section 588GA, we can support directors in safe harbour — a role liquidators generally cannot fulfil because of appointment-conflict concerns.
• Strategic restructuring. Where the objective is to avoid formal insolvency through refinancing, sale or recapitalisation, we lead the work while liquidators stay out of matters they cannot ultimately profit from.
• Director personal exposure. We advise directors on personal guarantees, DPN exposure and asset protection — matters outside the remit of a liquidator acting for the company.
• Creditor and stakeholder negotiation. We negotiate with lenders, the ATO, trade creditors and major counterparties in ways that would be inappropriate for a court-appointed officer.
• Contested appointments. Where a liquidator’s position is being challenged or where directors need independent counsel in contested insolvency proceedings, we can take the brief.

Who we act for

Our Restructuring & Turnaround practice acts for the directors, boards and shareholders of large SMEs and ASX-listed companies across Australia, New Zealand and Asia. Typical engagements involve companies with turnover from $20 million through to $500 million, with boards facing decisions that carry material personal and commercial consequences.

We also act for lenders, private credit funds and strategic acquirers seeking independent advisory on distressed situations where a structured pre-appointment process will deliver a better outcome than formal insolvency.