| The firm commenced operations during 1991 to become involved in the specialist activities related to corporate insolvency and with those companies seeking assistance in dealing with such problems. In its relatively short history, the firm has been involved in cash flow and profitability problem solving, internal conflicts, provisional liquidation, liquidation, voluntary administrations, deeds of company arrangement, schemes of arrangement and receiverships. Where necessary, trading operations have been monitored and controlled by us.
The firm incorporates around seven persons who are directly active in client work. Limited staffing ensures that double handling of tasks is avoided and costs contained. A wide variety of established contacts allows the firm to gain access to specialists in many fields where such assistance is required to carry out particular roles efficiently.
Style of Operations
The personnel at our firm take pride in offering our services in our individual style. We are a balanced enthusiastic group who take a genuine interest in the work which we undertake. In what we do, we are both professional and commercial.
The words “lean”, “mean” and “keen” go a long way to describing the firm’s style of operation. Many years of direct involvement with a variety of hands-on operations and investments by the firm’s principals have exposed them to many scenarios where business survival skills were important. This ability is coupled with the knowledge and skills of the firm’s staff. The firm has successfully targeted the smaller companies experiencing difficulties where perhaps individual flair, objective goal setting and determination become important factors in handling the job properly. The experience and ability to deal with the wide variety of legal matters which are often encountered is of great benefit to many insolvency administrations.
Job Sources
Consultancy requests and administrations are referred to the firm by a range of parties which includes banks, secured creditors, creditors, accountants, solicitors and government bodies.
In a number of the businesses, the role undertaken has incorporated making realisations on behalf of banks who have held floating charges or mortgages over property. We have acted on behalf of St George Bank, ANZ Bank, National Australia Bank and Commonwealth Bank of Australia which has resulted in successful recoveries.
The firm is based in the CBD of Brisbane but undertakes regular assignments in the nearby Gold Coast and Sunshine Coast regions and also maintains a network of associates across the eastern coast.
Legal Advisors
Because of the specialist nature of insolvency administrations, we have maintained a close working relationship with a limited number of legal firms.
The working relationships have been successfully built on the basis of the professional and personal dealings with each other.
Basis of Fees
Our firm’s charges for services are based on the R E Murphy Schedule of Hourly Rates which are subject to periodic review. These rates are used in conjunction with the Guide to Insolvency Experience Rate Classification issued on 1 July 1999 by the Insolvency Practitioners’ Association of Australia. Notwithstanding this position, the firm accepts appointments in low or non funded jobs and has worked diligently to recover some unlikely assets and other opportunities which have produced funds for creditors. It is not the practice of the firm to seek an indemnity from a creditor who seeks to appoint me to act in an official capacity, other than as Receiver and Manager. In certain matters within certain outcomes, a speculative rate may apply or an initial deposit may be requested.
Quality Assurance
Within the firm, we are very conscious of setting and maintaining standards of professional knowledge and practice. We have developed a customised computer program which assists in the management and control of various types of work undertaken. Because of this and our small number of staff, we operate efficiently and without duplication of work in the administrations.
Further Information
Should you require a more information or wish to talk about how we can assist please contact either Mr Bob Murphy or Mr David Hambleton on (07) 3136 5700
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