What to discuss at the first meeting
Explain the entity, current debts and any demands, enforcement or appointment. Ask for advice that distinguishes the company’s position from the responsibilities and interests of directors or guarantors.
Legal advice and the role of an insolvency practitioner are distinct; clarify coordination and fees.
Working with a firm in Canberra
A Canberra address does not automatically mean ACT law is the only law involved. Commonwealth decisions, workplace matters and transactions involving nearby NSW can require different experience and procedures.
For insolvency & restructuring, ask which parts of the work the firm handles itself and whether it has relevant ACT experience. Let the lawyer know if a property, employer, other party or existing proceeding is outside Canberra. Your home address alone does not determine the applicable process.
How the engagement may progress
- 01
Explain the transaction, amount involved, parties and desired result. Provide the current agreement and relevant entity or trust details.
- 02
Ask which risks need legal, accounting, tax or technical advice. Identify essential terms and those you are willing to negotiate.
- 03
Agree who negotiates, approves documents and tracks continuing obligations. Clarify whether post-completion advice is included.
Fees and the scope of work
Request a defined scope or staged budget with assumptions about document review and negotiation rounds. Personal guarantees, tax and related disputes may need separate work.
Ask for a written scope identifying the work you are authorising, the person responsible and when costs will be reviewed. If you only want advice on one step, say so before the firm begins wider work.
Dates to raise at first contact
Highlight signing dates, finance conditions and demands. Raise an inability to meet debts immediately so appropriate advice can be identified before further commitments.
Questions to ask a insolvency & restructuring adviser
- Who needs separate advice?
- What immediate decisions or deadlines require assessment?
