Controlled Business Exits
A guided exit that helps you protect your assets and move forward.
Your next chapter starts with understanding your options.
We help you do that quickly and safely.
Your next step starts with knowing whether your business needs a solvent exit or an insolvency exit. Each pathway has very different rules and risks.
If the business is solvent, you can usually close in an orderly and tax-efficient way. If it’s insolvent, you need a more protective, controlled approach to safeguard your personal position.
A controlled insolvency exit gives you that structure. It helps you close safely, manage personal exposure and move forward with confidence.
When the Business is Insolvent
Understanding your risks during an Insolvency Exit
A practitioner-facilitated exit occurs when a licensed insolvency practitioner takes control of a business that can no longer meet its debts.
An insolvency practitioner's legal duty is to act in the interests of the company and its creditors, which means they cannot advise directors on how to protect their home, manage personal guarantees or reduce their personal exposure.
That's why a Director’s Advocate is essential in the process - we step in as the conduit between the practitioner and the director, taking a more holistic approach to, acting with the best interests of the directors as their top priority.
Claims from Liquidators
Once a liquidator, administrator or bankruptcy trustee is appointed, they are required by law to investigate the conduct of directors/individual. This can lead to the practitioner making financial claims against the director or other parties.
Read More
Claims from Creditors
While the appointment of a practitioner stops most creditors from pursuing action, it can result in some creditors pursuing the director's personally. This can result from expired DPNs, personal guarantees and property securities.
Read More
Other Consequences
There are a number of other ways that an insolvency event can personally affect the director. For example, it can negatively affect trading licences, expose the family home to action and result in personal insolvency for the director.
Read MoreNot sure if the business should close or fight back?
We can help you work out whether a turnaround is still achievable. Find out more about Business Recovery >
Business Exit Options
We help you understand each pathway and choose the one that gives you the safest outcome
Small Business Restructure
Considered the safest formal insolvency pathway to exit a business for the director, this combines a SBR with an MVL, and results in effectively no risk of any claims against the director from insolvency practitioners. Read more >
Creditor's Voluntary Liquidation
In a liquidation, the director hands over the business to a liquidator, who is charged with controlling a shut down of the business. The creditors can no longer take action against the Company, however the liquidator can potentially make claims against the director(s) personally. Read more >
Voluntary Administration
In a Voluntary Administration (“VA”), an Administrator takes control of the management of the business, then makes the decision to either accept an offer (under a business sale or Deed of Company Arrangement), or place the business into liquidation. Read more >
Member's Voluntary Liquidation
Many businesses reach a natural endpoint, whether due to retirement, succession, restructuring, or a strategic decision to stop trading. When a company is solvent and able to pay all of its debts, the most controlled way to close it is through a Members Voluntary Liquidation (MVL). Read more >
Personal Insolvency Options
Many directors need help understanding how business decisions affect their personal position
Bankruptcy
Bankruptcy is a formal legal process where an individual is declared insolvent and a trustee is appointed to manage their financial affairs. Read more >
Part X - Personal Insolvency Agreements
A Personal Insolvency Agreement (Part 10) is a formal agreement between you and your creditors to settle debts without declaring bankruptcy. Read more >
Part IX - Debt Agreements
A Debt Agreement is a legally binding arrangement between you and your creditors to repay your debts over time. It’s often referred to as a “Part 9 agreement” under Australia’s Bankruptcy Act. Read more >
The role of the Director's Advocate in managing controlled exits.
Directors come to us because they don’t want to walk into insolvency blind. They want someone experienced, commercial and calm in their corner.
You are not handing your future over to chance. You are choosing a guided, supported process.
01 Assess the Situation
Assess the financial position and issues to determine if an insolvency process is the right path.
03 Provide Guidance
Ensure directors understand their legal obligations, duties and risks throughout the insolvency process.
05 Manage Personal Risks
Advise directors on actions to mitigate/minimise risks of personal liability, ensuring compliance with insolvency laws.
02 Choose the Right Strategy
Help directors understand the options and select the most appropriate exit strategy for their situation.
04 Liaise with Practitioners
Act as a bridge between the directors and the practitioner to ensure the directors’ interests are represented.
06 Maximize Value
Work with the insolvency practitioner identify acceptable, alternate paths that may be less aggressive or oppressive for the director's.
Have you received a Director's Penalty Notice from the ATO?
Director Penalty Notices ("DPN") means the ATO has made the Director personally liable for the debts of the Company. If these notices are issued to a director, then you will need to move quickly to avoid further personal liability for tax debts. More on DPNs >
How it Works
1
Book a free, confidential call
A simple conversation to talk through what’s happening in your business. No obligation, no judgment, just a safe place to explain your situation.
2
Get clarity and clear options
We listen and unpack the real issues. You’ll walk away knowing exactly where you stand and the options available to you.
3
Choose the pathway that feels right
You stay in control. Whether it’s recovery, growth, or exit planning, you decide the path forward - and we’ll stand beside you every step of the way
Book Your Free, Confidential Call
Take the first step toward regaining control.
Every conversation is completely confidential and focused on your best interests. You’ll be speaking with experienced professionals who have supported hundreds of small businesses - local, independent, and always on your side.
"Thryvv recently helped a client of mine go from a $260,000 tax liability to a $80,000 pay out that we refinanced into the client's home loan. That is a life changing outcome for our client. If you are looking for someone to chat with about your business struggles, reach out and have the chat."
