Businesses experiencing financial distress may not require a formal insolvency appointment in order for the business to survive.Using the firm’s experience Hurst Recovery can review the business with a view to implementing a turnaround strategy in order to identify steps that can be taken by the business in order for it to continue trading and return to profitability.

This process involves our staff being engaged to undertake a review of the business to identify problems and providing a report to document steps that need to be taken and assisting with implementing these steps.

Our turnaround strategies can be applied to:

  • Sole Traders;
  • Partnerships; and
  • Companies.


When a business that is experiencing financial distress reaches a point where its continued trading is jeopardised it may be necessary for the directors to consider a formal insolvency appointment. Formal insolvency appointments can take the following forms:

  • Voluntary Administration leading to a Deed of Company Arrangement;
  • Voluntary Administration leading to accreditors Voluntary Liquidation;
  • Creditors Voluntary Liquidation;
  • Official Liquidation;
  • Receivership; and
  • Provisional Liquidation

We use our specialist knowledge, which has been accumulated through a combined 30+ years’ experience in the insolvency field, to provide the best possible result for all stakeholders, including:

  • Directors
  • Shareholders
  • Secured Lenders
  • Creditors
  • Employees
  • Statutory Authorities

Forensic Accounting

When clients are involved in litigation we can provide all aspects of forensic accounting and litigation support services, which include:

  • Business Valuations;
  • Economic Loss Calculations;
  • Fraud Investigations;
  • Due Diligence Reviews; and
  • Expert Witness Reports

In addition, by virtue of our insolvency experience we are experienced in the provision of expert witness evidence in numerous Courts and Tribunals.

Voluntary Administration/Deed of Company Arrangement

The Voluntary Administration regime is implemented with the aim of providing a formal process to enable the affairs of a Company to be restructured so that it survives into the future and provides a greater return to creditors than if it was immediately liquidated.

The Voluntary Administration regime allows directors to put forward a proposal for a Deed of Company Arrangement, which if accepted by creditors, will enable a Company’s business to continue to trade and control of the Company returned to its directors. Deeds of Company Arrangement can involve:

  • Contributions from future profit;
  • Director  and/or Third Party Contributions; and
  • Debt Deferral

Our experience in assisting directors to formulate the best possible Deed of Company Arrangement results in the best possible outcome for:

  • The Company;
  • Directors;
  •  Employees;
  • Creditors; and
  • Shareholders


Our experience in conducting Liquidations of insolvent Companies via:

  • Creditors Voluntary Liquidations;
  • Creditors Voluntary Liquidations following a Voluntary Administration;
  • Official Liquidations ; and
  • Provisional Liquidations

Enables us to:

  • Identify Company Assets;
  • Formulate appropriate realisation strategies for assets;
  • Identify avenues for the recovery of funds for the benefit of creditors;
  • Conduct litigation for the recovery of funds; and
  • Distribute funds to creditors

We also have experience in conducting liquidations of solvent companies which facilitates:

  • Group Restructuring;
  • Realisation and Distribution of tax free distributions to shareholders; and
  • Dissolution of Companies that are no longer required


We have been appointed Receivers and Managers by secured lenders in a diverse range of industry sectors.
Our experience allows us to formulate the most appropriate strategies for the realisation of assets that are subject to the lenders security. In addition, we seek to formulate strategies that minimise the lenders risk and generate the greatest return.

We have also been appointed by secured lenders to undertake security reviews and investigating accountant’s reports as part of their lending programs and as a prelude to the appointment of Receivers and Managers.

In instances we have also been appointed by the Court as Receivers and Managers (pursuant to S.66G of the Conveyancing Act) in order to realise property in matters where there is a dispute between parties with an interests in the assets in question.