Creditors paid 100 cents in the dollar

We are very pleased to advise that for the 3^rd time our firm has paid 100 cents in the dollar, on two occasions we have also paid interest.

How did we do this? – Firstly

• We congratulate the directors who worked with us to maximise returns;
• We congratulate the company’s legal adviser for identifying the insolvency and seeing a way forward; and
• We congratulate the company’s accountants for working with us to ensure the company utilised its best taxation outcome.

The rest comes down to Team ethos. Our team leader on this file was Jennifer Henwood who maintained:

• Clear and consistent communication with the directors;
• Carefully navigated the tax consequences of sales to ensure carry forward losses could be utilised;
• Controlled all of the nitty gritty issues to keep creditors and stakeholders on the same page;
• Provided timely and regular reporting; and
• Gave ASIC good communication and did not need to go down the offences and reporting path. 

We worked to a budget which we kept the directors informed of, we didn’t burn and churn and remain focused on the goal, this week we paid 100 % of all claims including interest.

Thanks Jennifer for your persistence, a great team effort.