His extensive portfolio includes major banks, the Australian Taxation Office and a diverse array of financiers and creditors. Matthew is committed to guiding his clients to overcome financial adversity with confidence.
Joining Cor Cordis in 2017, Matthew is a respected and accomplished insolvency expert with a 30-year career who works closely with many of the firm's clients nationally. With his exceptional attention to detail, his analysis of complex financial situations delivers the most effective solutions.
Committed to building strong relationships with clients, Matthew fosters trust, effectively communicates, and builds lasting partnerships with diverse stakeholders. Backed by his extensive expertise and comprehensive understanding of insolvency laws and regulations, Matthew consistently provides expert guidance, empowering clients to overcome financial obstacles and achieve optimal outcomes.
Job type: Administration and winding up
Problem: The company operated an independent poultry abattoir and meat wholesaling business from its own premises. It had suffered trading losses from unprofitable contracts and internal disputes between directors and was struggling to manage its cashflow issues, particularly taxation liabilities.
Solution/Contribution: As Administrator, Matthew renegotiated customer contracts, introduced new pricing, changed staff rostering and staff numbers and implemented other measures to improve the company’s profitability.
Outcome: The company’s assets, the business and premises were sold to a competitor, ensuring future employment for the company’s staff and contractors.
Job type: Administration and winding up
Problem: The company operated a civil contracting and land development business near Caboolture, Queensland. The company had experienced trading losses as a result of unprofitable contracts, including a residential subdivision and State Government infrastructure works. The Company employed 10 staff and around 70 contractors. The directors were concerned about the company’s solvency and engaged Matthew as Administrator to address the company’s solvency position and to seek creditors’ support for a financial restructure to maximise the return to all stakeholders.
Solution/Contribution: As Administrator, Matthew renegotiated contracts in progress and, over a number of months, he liaised with customers, staff and contractors to return the company’s operations to profitability and to gain their support for a sale of the company’s business. Negotiations were also conducted with investors that expressed interest in proposing Deeds of Company Arrangement. However, those negotiations did not ultimately lead to any formal proposals being considered by stakeholders.
Outcome: The business and the company’s assets were sold as a going concern to a competitor, ensuring future employment for the company’s staff and contractors.
Job type: Receivership
Problem: The company owned a consolidation of 13 adjoining cattle properties there were security held by a financier for the owner’s other business operations. Matthew was appointed Receiver of the properties to address various works required on the properties and to facilitate sales of the properties to repay debts owing to the financier.
Solution/Contribution: Matthew arranged for various necessary works to be completed for the safety and wellbeing of livestock and the tenants living on the properties. Various repairs and maintenance were completed, including fencing, water infrastructure, power supply, tracks and roads, etc. The properties were prepared for sale and were offered to purchased englobo or individually, or a combination of some properties.
Outcome: A buyer purchased the properties as an englobo transaction and the return to the financier was maximised as a result.
Job type: Liquidation
Problem: The companies collectively operated a large telecommunications contracting business throughout all states and territories of Australia. The companies employed 120 staff with 74 projects underway around Australia.
The companies experienced severe cashflow difficulties arising from unprofitable contracts, inadequate management of staff and resources, particularly on remote work sites and contractual disputes with its major customer, a listed telecommunications entity. The companies were unable to manage increasing taxation liabilities for GST, PAYG and SGC, which led to Matthew’s engagement as Liquidator.
Solution/Contribution: Complex issues resolved by Matthew included settling competing ownership claims over raw materials and various plant and equipment involving directions obtained from the Federal Court of Australia. Matthew also resolved contractual disputes with major customers to recover funds owing to the companies.
Outcome: The companies’ financier was repaid in full. Employees received payment of their entitlements from the proceeds of the companies’ assets and from Commonwealth Government funding.
Other recoveries including loan repayments and voidable transaction recoveries have resulted in funds being available to ensure dividends will be paid to all classes of creditors.
Job type: Monitoring and turnaround assignment
Problem: The company operates a residential construction business based in Brisbane as a franchise of a leading national builder franchise group. The company experienced a substantial loss on a large residential property and, following deterioration of its financial position, could no longer comply with its financial reporting obligations for licensing with the Queensland Building & Construction Commission (“QBCC”). The QBCC invited the company to engage Matthew to assist with addressing the company’s financial difficulties and to assist with a financial turnaround, to ensure the company could meet QBCC’s financial reporting requirements for licensing.
Solution/Contribution: Over a period of 18 months, Matthew worked with the builder to implement various changes to management of the business, including pricing and payment terms with subcontractors, supervision of building sites, negotiation of payment arrangements with suppliers and he completed monthly assessments of the builder’s financial position and reporting to QBCC on the turnaround progress.
Outcome: The financial turnaround assignment was completed when the company’s net tangible asset and liquidity levels were restored and complied with QBCC’s financial licensing requirements.
Job type: Various Bankruptcy administrations
Problems: Problems included individuals faced with bankruptcy due to business failure and adverse legal outcomes. Matthew has also administered complex bankruptcy estates arising from fraudulent conduct, including misuse of clients’ funds held on trust and protracted family court proceedings.
Solutions/Contributions: Sale of commercial properties and interests in residential properties, resolving ownership claims over real estate and pursuing voidable transactions, including the issue of Official Receiver Notices to recover funds for the benefit of creditors. Realising property located overseas and recovering compulsory income contributions with the use of Official Receiver Notices.
Outcomes: Favourable outcomes have included annulment of bankruptcies and dividends to creditors that maximised as a result of negotiating commercial results from complex legal disputes and ownership claims.
Matthew has completed numerous solvency investigations and assessments of companies in financial difficulty subject to winding up applications before the Courts.
Mathew provided his expert report and evidence under oath in a matter involving a company in liquidation and the Liquidator’s conduct and duties as well as providing expert opinion about a Liquidator’s solvency evidence.
Matthew provided expert evidence in a matter involving a bankrupt estate and proceedings pursuant to Section 120 of the Bankruptcy Act, 1966 to set aside the transfer of a large rural property in far north Queensland.
Expert evidence in criminal proceedings, which resulted in the director of a company in liquidation being found guilty of fraud and being sentenced to a term of imprisonment.