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Insolvency and corporate restructuring outfit Cathro & Partners has launched a division to advise government agencies on assisting with business collapses, corporate fraud, phoenix activity and director malfeasance as the economy enters “a perfect storm”.
Division head John Laird said a host of negative trends were driving insolvencies back to pre-pandemic levels but the impacts would be more widely felt this time.
“You've got inflation, you've got interest rates and insolvency that are all increasing,” he said. “This is increasing the financial distress that company directors are facing currently. It’s also at a time when the ATO, banks and landlords have recommenced their debt collection processes following COVID-19.
[...]
Cathro & Partners said Mr Laird brought three decade’s experience in corporate insolvency advisory to the role, most recently undertaking independent compliance reviews for individual liquidators and national insolvency firms.
During the GFC, he served on the registered liquidators team at ASIC, and on various taskforces advising on insolvency and investigating complex corporate collapses.
The launch of the division follows Cathro & Partners announcing a strategic alliance with international business advisory firm Quantuma in December.
This is an extract from an article written by Philip King for Accountants Daily, published on 06 February 2023.
Read the full story: Cathro to help navigate through economic ‘perfect storm’ - Accountants Daily
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