Senior Manager
Krystal Everitt
T:
M:
Melbourne
She prioritises understanding, transparency, and clear communication to deliver the best outcome for all stakeholders.
Krystal began her professional career in 2007 in the insolvency and restructuring industry, specialising in formal corporate insolvency appointments over a vast range of industries with appointments including liquidations, receiverships, deed of company arrangements and mortgagee in possession matters.
As a member of the firm’s Restructuring Team, Krystal managed our first simplified CVL following its introduction in 2021. The simplified liquidation process decreases the usual time and cost of a winding up, providing faster relief for businesses and creditors. With a focused interest in investigating the use and disposal of pre-appointment assets and the challenges of trading appointments, Krystal is an expert in voidable transaction claims that will see funds recovered for the benefit of creditors and ensure timely and focused updates to key stakeholders on appointments.
In 2023, Cor Cordis was appointed administrators of two Victorian homebuilders. Krystal was selected as the lead manager for these engagements. Cor Cordis successfully restructured the two construction companies, saving them from liquidation.
While at Cor Cordis, Krystal has played a key role in advocating for and mentoring upcoming young women in the industry. She spent five years on the WIRV management committee, holding the position of Vice President for her final two years.
A volume builder that was facing financial distress as a consequence of fixed-price building contracts, supply and trade shortages and soaring costs. At the time of appointment, Mahercorp had debts of c$58m, over 200 employees, 780 projects underway and a further 1,000 in the pipeline.
Krystal assisted with the management of the business’ trading operations, whilst the business was restructured via a deed of company arrangement, gaining the support of Government stakeholders, customers, creditors and employees.
Mahercorp was successfully restructured, which saw the payment in full of priority entitlements to retrenched employees, c120 employees retain employment with the Company, and over 90% of clients' contracts continue progressing to completion.
Specialist all-female rideshare operation that was ineligible for Government relief during extended COVID-19 lockdowns and ultimately failed to recover from the significant downturn in business during 2020 and 2021 due to lockdowns.
As manager of the trading operations of this specialist rideshare operation during the VA process before transitioning to a Deed of Company of Arrangement, Krystal dealt with all facets of the business and its key stakeholders, including employees, shareholders, state regulators, drivers and secured and unsecured creditors, enabling the business to continue servicing the transport needs of women and children of Australia.
The business was sold and restructured through a deed of company arrangement, enabling the continuation of the business operations and up to 500 drivers retaining employment.
A fencing contractor unable to recover from the effects of COVID-19 lockdowns met the stringent requirements to transition to a simplified liquidation. This was the firm’s first simplified liquidation appointment in the months following the introduction of the new legislation.
Krystal and her colleagues managed and navigated the new legislation and reporting requirements to ensure the matter met the SCVL requirements at all stages to minimise costs for the company. In addition, Krystal and her team successfully negotiated and recovered several longstanding debtors the Company had been unable to recover.
We delivered the desired outcome by ensuring the matter was wound up efficiently and with minimal cost, allowing for a distribution to priority employee creditors.
