Business Financial Distress: Strategies, Options and Risks (2025) (On Demand)

This On Demand was recorded on 28 May 2025.

When a small or medium-sized business turns to its lawyer for help, it’s often already in distress, even if the client doesn’t quite realise it. Perhaps they’re seeking advice on a new loan, refinancing the family home, or dealing with pressure from creditors. An accountant and lawyer should spot the signs of deeper financial trouble.

This practical On Demand offers a structured framework to help accountants and lawyers work together and support SME clients through the early to mid-stages of business difficulty. From first signs of strain to potential insolvency, our panellists will share their varied perspectives and guide you through the stages a struggling business might face. They’ll explore how both accountants and lawyers can assist clients in evaluating realistic options, protecting personal assets, and deciding whether the business is viable. They will also address critical considerations, including how stakeholders will be affected and the wider implications of the various options available.

With practical insights and real-world examples, this session will help you guide your clients through one of the most challenging phases of their commercial journey.

Learning Outcomes

Identify key early warning signs of business distress and engage clients in timely conversations.
Understand the range of informal steps that can be taken to stabilise a business before formal insolvency is required.
Recognise when to escalate a matter to an insolvency practitioner.
Explore available restructuring options, both informal and formal, and their implications for the client and key stakeholders.
Advise clients on risks associated with personal guarantees, general security agreements, and asset protection.
Navigate difficult client conversations around viability, personal exposure, and business priorities.
Understand the professional boundaries and collaboration points between accountants, insolvency practitioners, and lawyers in these scenarios.

Who Should Watch?

Commercial lawyers, General practitioners and in-house Counsel.

Accountants and Business advisors.

Presenters

Keaton Pronk, Partner, McDonald Vague
Sarah Rawcliffe, Litigation Partner, Harkness Henry
Thomas Sim, Partner, BetterCo.

Keaton Pronk

Keaton is experienced with both personal and corporate insolvency and deals with a range of small to large sized businesses. He has experience in a number of industries including hospitality management, retail, entertainment, fashion, manufacturing, IT, investment and construction.

Prior to joining McDonald Vague, Keaton worked for the MBIE Insolvency and Trustee Service as a Principal Insolvency Officer and held a Deputy Assignee warrant.

Keaton is a Chartered Accountant, Licenced Insolvency Practitioner, a member of RITANZ and INSOL International.

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Thomas Sim

Thomas is a partner at BetterCo, a leading business advisory and accounting firm based in Auckland, New Zealand. As a Chartered Accountant (CA), Thomas brings a wealth of expertise to his role, assisting clients in navigating complex financial landscapes. His commitment to excellence and proactive approach align seamlessly with BetterCo's mission to support and grow Kiwi businesses.

Established in 2009, BetterCo has been advocating for and fostering the growth of New Zealand businesses. The firm's philosophy emphasizes simplicity, clear communication, and innovative thinking, all aimed at continuous improvement and building strong connections with clients and the community. As a key member of the BetterCo team, Thomas contributes to this vision by delivering tailored financial solutions and strategic advice, empowering clients to achieve their business objectives.

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Sarah Rawcliffe

As leader of the Harkness Henry litigation team, Sarah is an experienced commercial litigator, advising clients on a broad range of commercial disputes.

She frequently advises insolvency practitioners and creditors when a business is in financial distress. She has in-depth knowledge about liquidations, receiverships, bankruptcies and compromises. She advises on issues relating to the enforcement of securities, insolvent transactions, director breaches and debt recovery.

Sarah regularly appears in court and in alternative dispute resolution processes such as arbitration and mediation. She is an experienced litigator with over 20 years of experience both in New Zealand and the United Kingdom.

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Details

CPD Hours: 1.50hr

Pricing Details

Ticket Price

Member: $155 GST
Non-Member: $220 GST