N Trading Pty Ltd

Levi’s role

When a business specialising in the sale and distribution of auto and marine parts for recreational vehicles and vessels entered voluntary administration, Levi was engaged by a lender to recover a loan amount. Levi liaised with the administrator to quickly determine the financial position of the business and determine an exit strategy. Levi’s investigation also provided a critical assessment as to whether the lender should rely on the administrator or alternatively appoint a receiver.

Outcome

Outcome

Levi was subsequently appointed and resigned as receiver within 12 hours, recommending that the lender rely on the administrator to control costs and mitigate risks, and use a personal guarantee provided by a director of the business to reduce exposure to loss.

Services

  • Receiver
  • Exit Strategy Planning