Australia, 17th Jul 2025, – Macmillan Lawyers and Advisors, a Brisbane-based commercial law firm with established experience in corporate restructuring and insolvency matters, has introduced a Voluntary Insolvency Advisory service in response to growing demand from businesses managing financial distress. The service is designed to support directors and company officers in addressing insolvency risks through legally compliant procedures, including voluntary administration, restructuring initiatives, and formal wind-up processes.
The new advisory service responds to a growing volume of insolvency-related enquiries, particularly among small and medium-sized enterprises operating in sectors such as construction, hospitality, and retail. Industry analysts have noted a continuing trend of business failures resulting from deferred liabilities, high interest rates, and post-pandemic structural change. Many businesses are now seeking formal processes to address unsustainable debt and operational challenges.
The advisory service offered by Macmillan Lawyers and Advisors includes legal assessment of insolvency risks, preparation of statutory documents, representation during creditor negotiations, and support through voluntary administration or liquidation. It also provides directors with advice on their legal obligations under the Corporations Act 2001, including the duty to prevent insolvent trading and the requirements around formal appointments of administrators or liquidators.
“Directors are under increasing pressure to make difficult decisions in the face of financial uncertainty,” said Kyle Macmillan, Principal at Macmillan Lawyers and Advisors. “The Voluntary Insolvency Advisory has been established to ensure those decisions are made with a clear understanding of legal responsibilities, available procedures, and the implications for both company stakeholders and creditors. Legal advice at the early stages of distress can make a significant difference to outcomes.”
The Brisbane-based firm has developed the advisory in consultation with insolvency practitioners, financial consultants, and regulatory professionals. The focus is on ensuring compliance with legal standards while maintaining transparency in stakeholder engagement and risk mitigation. Services are delivered by practitioners experienced in commercial litigation, restructuring law, and corporate advisory.
The introduction of the advisory coincides with ongoing regulatory concern around the use of unlicensed or informal insolvency services. The Australian Securities and Investments Commission (ASIC) has issued repeated warnings to directors against accepting guidance from unqualified advisors, particularly in situations involving creditor pressure or cashflow insolvency. In contrast, Macmillan Lawyers and Advisors has emphasised the importance of legal accountability and procedural compliance in all matters related to insolvency and restructuring.
The advisory has been structured to support businesses that may still be viable with appropriate reorganisation, as well as those facing unavoidable wind-up. It includes pre-insolvency planning, legal documentation, and representation in negotiations with secured and unsecured creditors. Where necessary, the firm assists in lodging applications with the courts or ASIC for formal administration or deregistration procedures.
The firm reports that the demand for legally managed insolvency pathways has increased significantly over the past 12 months, with a noticeable shift in the types of clients seeking advice. While early demand stemmed primarily from businesses impacted by pandemic-era restrictions, more recent enquiries have come from companies affected by supply chain delays, staff shortages, and rising operating costs.
In anticipation of continued volatility in the business environment, Macmillan Lawyers and Advisors is preparing to expand the reach of the advisory to cover more complex insolvency situations, including group restructures and cross-border insolvency matters under the UNCITRAL Model Law framework.
“The legal landscape around insolvency in Australia is evolving, and directors are increasingly aware of the risks of delayed action,” Macmillan said. “Over the coming year, the firm intends to enhance the advisory’s capabilities to address emerging risks, including complex creditor arrangements and court-supervised external administrations.”
For further information regarding the Voluntary Insolvency Advisory service, contact Macmillan Lawyers and Advisors. The firm is located at Level 38, 71 Eagle Street, Brisbane City, QLD 4000, and can be reached by phone on (07) 3518 8030 or via email at admin@macmillan.law.
Media Contact
Organization: Macmillan Lawyers and Advisors
Contact
Person: Kyle Macmillan
Website:
https://macmillan.law/
Email:
admin@macmillan.law
Contact Number: 61735188030
Address:Level 38/71 Eagle St
Address 2: Brisbane City QLD 4000
Country:Australia
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Macmillan Lawyers & Advisors Launch Voluntary Insolvency Advisory Amid Rising Business Restructurings appeared first on
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