Complex Debt Recovery
Helping you discover the most effective and commercially viable pathway to recovering your debt. Aptum runs the complex, contested and high-value matters that a collection agency can't.
How can Aptum help?
With experience across all forms of debt recovery litigation, Aptum has provided successful debt recovery services to a diverse range of businesses spanning many industries.
Our approach to debt recovery is focused on the most commercially viable, cost-effective pathway to recouping debt, and the necessary protections from future debt recovery disputes.
This involves an early and thorough analysis of the available avenues to recovery, prospects of recovery, and any impediments, such as voluntary administrations of the debtor, to ensure you are positioned for the best possible outcome.
Aptum's investment mindset approach to litigation ensures that the commercial viability of your legal spend is a key priority.
"The result Aptum achieved for me was exceptional. I have no criticisms. I hope not to require Aptum's services again, but if I do, I would, without question, instruct them."
What is complex commercial debt recovery?
Complex commercial debt recovery is the pursuit of a business debt that a demand letter or a debt collection agency won't resolve. It's the work that starts once you've established the debt is real, the counterparty won't pay, and the amount justifies the forensic legal work needed to actually recover it.
A debt becomes complex when one or more of these features are in play:
- The debtor has assets but is refusing to pay (requires enforcement strategy: garnishees, charging orders, freezing orders)
- The debtor is on the edge of insolvency (requires priority strategy: stat demand, wind-up petition, PPSR)
- The debt is secured by a personal guarantee that the guarantor is now disputing
- The debt is disputed on the merits (requires litigation to establish the debt before enforcement)
- The counterparty is offshore and enforcement needs to run across borders
- A liquidator has been appointed and is threatening to claw back the debtor's recent payments as unfair preferences
- The debt sits inside a broader commercial dispute (JV break-up, sale of business, partnership dissolution)
Any of these features shift the matter from a collection exercise into a litigation and insolvency exercise. That's the ground Aptum operates on. Our work is led by David Adason, recognised by Doyle's Guide as a Rising Star in Commercial Litigation and Insolvency Law — the credentials that matter when the recovery involves the Corporations Act 2001 (Cth), the Bankruptcy Act 1966 (Cth), or a real fight over priorities.
Where Aptum runs complex debt recovery
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01
Statutory demands (Corporations Act s459E).
Issuing and enforcing statutory demands against corporate debtors. Where the debtor fails to pay or apply to set the demand aside within 21 days, they are deemed insolvent and we move to the winding-up application. Aptum also defends statutory demands (applications to set aside under s459G) where the client is on the receiving end.
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Winding-up applications (Corporations Act s459P).
Creditor-side winding-up applications in the Federal Court and state Supreme Courts. The winding-up threat is often the fastest way to bring a solvent-but-uncooperative debtor to the table. Where the debtor is genuinely insolvent, the winding-up produces the appointment of a liquidator who then pursues the debt on behalf of all creditors.
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Bankruptcy notices and creditor's petitions.
For debts against individual debtors, the Bankruptcy Act 1966 pathway is bankruptcy notice → creditor's petition → sequestration order. Aptum runs the full pathway and coordinates with a bankruptcy trustee once appointed.
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04
Summary judgment applications.
Where the debt is genuinely undisputed but the debtor is stalling, summary judgment is often the fastest route to enforceable judgment. Aptum runs summary judgment applications in the Federal, Supreme, County, District and Magistrates Courts.
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05
Freezing orders (Mareva orders).
Urgent applications to restrain a debtor from moving assets out of reach pending judgment. Freezing orders are one of the most powerful commercial litigation tools and one of the most technically demanding to obtain. Aptum runs them in the Federal Court and state Supreme Courts.
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Search orders and asset preservation.
Where the debtor is dissipating or hiding evidence of assets, search orders (formerly Anton Piller orders) and preservation orders may be available. High-threshold, high-consequence applications.
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Garnishee orders and enforcement.
Post-judgment enforcement through garnishee orders on bank accounts, wages, or third parties who owe the debtor money. Aptum runs the enforcement suite end-to-end.
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Charging orders and writs for property seizure.
Charging the judgment on the debtor's real property and enforcing sale, or issuing a writ for the seizure and sale of personal property. State-court enforcement work.
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Personal guarantee enforcement.
Recovery against directors and other guarantors of corporate debts. Personal guarantee claims often turn on whether the guarantee was properly executed and whether the guarantor has any of the standard defences (non est factum, undue influence, unconscionable conduct, or failure of consideration).
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Cross-border debt recovery.
Enforcement of Australian judgments overseas and enforcement of foreign judgments in Australia under the Foreign Judgments Act 1991 (Cth) and the common law. Coordination with foreign counsel where needed.
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Trust and estate debt recovery.
Recovery against corporate trustees (right of indemnity, breach of trust), against beneficiaries, or against a deceased estate. Often overlaps with our Trusts and Estates Litigation service.
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Voidable transaction and unfair preference defence.
Defence of liquidator claims that recent payments received from the now-insolvent debtor were unfair preferences (s588FA), uncommercial transactions (s588FB), or otherwise voidable. The most common way a creditor's win becomes a loss six months later.
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Security of payment (SOPA) claims.
For construction industry debts, adjudications under the Building and Construction Industry Security of Payment Act in each state provide a rapid pathway to a payable determination. Aptum runs SOPA adjudications, judicial review of adjudications, and enforcement of adjudication determinations.
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Debts inside a broader commercial dispute.
Where the debt is one issue inside a JV break-up, sale of business dispute, or partnership dissolution, Aptum runs the recovery as part of the broader dispute rather than as a separate matter. Cross-referenced with our Shareholder and Partnership Disputes service and Corporations Law and Directors Duty Disputes service.
What stage is your debt recovery matter at?
Where the matter sits determines which Aptum service is the right fit.
The debtor owes me a substantial sum and won't pay.
This is the right page. Aptum runs the recovery from letter of demand through statutory demand, winding-up or bankruptcy petition, summary judgment, and enforcement.
The debtor is a director who has given a personal guarantee.
This is the right page. Personal guarantee enforcement and defence is central to Aptum's debt recovery practice.
A liquidator is claiming that payments I received were unfair preferences.
This is the right page. Aptum defends preference claims and negotiates commercial resolutions with insolvency practitioners.
I've received a statutory demand or a bankruptcy notice.
This is the right page. Aptum defends statutory demands (s459G applications) and applications to set aside bankruptcy notices, and the window to act is short (21 days for a stat demand).
The debt is owed by the ATO or the SRO.
You need our ATO and SRO Debt Recovery service. Tax debt recovery has its own statutory framework.
The debtor is a director of an insolvent company and has received a DPN.
You need our Director Penalty Notices service for the DPN side, and this page for the underlying corporate debt recovery.
The debt is one issue in a broader dispute about the business itself.
You may need our Shareholder and Partnership Disputes service or Corporations Law and Directors Duty Disputes service. We can run the recovery inside the broader matter.
I'm not sure which category I'm in.
Book the value conversation below. We sort the pathway in the first meeting.
What Aptum brings to complex debt recovery
Nigel Evans
Nigel Evans, Aptum's Managing Director and Co-Founder, oversees Aptum's debt recovery practice. Before founding Aptum, Nigel spent 11 years at the commercial Victorian Bar, where he ran secured and unsecured recovery, insolvency and enforcement matters. He is listed in Best Lawyers in Australia for Commercial Litigation (2026) and recognised by Doyle's Guide as a Leading Commercial Litigation and Dispute Resolution Lawyer.
David Adason
Nigel is supported by David Adason, Aptum's Associate Director. David has practised commercial litigation exclusively across his career, including a period as Associate to a Justice of the Federal Court of Australia. Doyle's Guide has recognised David as a Rising Star in Commercial Litigation and Insolvency Law — the credential that matters most on this page. David runs the day-to-day conduct of debt recovery matters, from statutory demands and winding-up applications through to preference defence and enforcement.
That combination of Federal Court experience and Insolvency Law recognition is directly relevant to how debt recovery matters are run at the complex end of the market.
Complex recovery is a pathway decision, not a form-filling exercise
Every recovery pathway (letter of demand, stat demand, wind-up, bankruptcy petition, summary judgment, freezing order) has its own cost, timing, evidence threshold, and risk profile. Choosing the right one first is the difference between recovering the debt and spending more on legal fees than the debt was worth. Aptum's pathways assessment locks in the right approach before any court steps are taken.
Insolvency-affected recovery is a different discipline
Once the debtor is in administration, receivership or liquidation, the recovery game changes. Priorities under the Corporations Act and the Personal Property Securities Act 2009 (Cth), proof of debt lodgement, voidable transaction risk, and negotiating with the insolvency practitioner all become part of the run. Getting the strategy right at that point often means the difference between a full recovery and cents on the dollar.
The preference clawback risk needs managing from the outset
The single most common way a recovery turns into a loss is the liquidator's later claim that recent payments received were unfair preferences under s588FA. Aptum builds preference risk into the recovery strategy from the value conversation — how the debt is characterised, how payments are received, and whether security is available — so the win holds up if the debtor is subsequently wound up.
What makes Aptum different
Specialist expertise
All we do is litigate complex commercial and tax disputes.
Legal intelligence framework
Practical, ongoing risk assessment to focus on the essential.
Project management framework
Routine documented strategy through custom project management.
Recent matter outcomes
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01
A liquidator traces millions in allegedly misappropriated funds
A liquidator sought to recover company funds allegedly misappropriated by a former director. Aptum designed and executed the recovery strategy, conducted forensic investigations and developed claims focused on maximising returns for creditors. Aptum established a clear pathway for recovery and positioned the liquidator to pursue significant claims arising from the movement of millions of dollars.
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02
An international investor seeks to preserve rights to assets worth US$500 million
An investment entity sought urgent relief to prevent payments being made to third parties while ownership rights were being contested in related overseas proceedings. Aptum commenced proceedings in the Federal Court seeking freezing orders and related relief. Aptum helped secure a pathway to protect the client's interests in assets of substantial value while advancing a coordinated strategy across multiple jurisdictions
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What happens when you engage Aptum
Aptum runs every matter under our project management framework, with clear expectations on timing, cost and scope from the first call. Before you pay us anything, you get a free value conversation so you know exactly where you stand. No surprises.
Value conversation (free)
You come in for a conversation, in person at our office or over Teams, with the practice lead who would run your matter and your client experience coordinator. You tell us who the debtor is, what the debt is, what documentation you have, and what has already been tried. We tell you the realistic recovery pathway, what security or priorities may be available, and what to expect on cost, timing and scope if you engage us. Real expertise from a senior practitioner before you commit to anything, not a fake triage.
Pathways assessment
Once you engage, you receive a documented strategy and a cost forecast aligned to the stages of your matter. For debt recovery matters that typically means confirming the debtor's solvency, identifying available security (PPSR, guarantees, charges), choosing the recovery instrument (letter of demand, stat demand, summary judgment, bankruptcy notice, freezing order), and setting up the file so post-judgment enforcement is ready to run the moment judgment is entered.
Execution
This is the phase for issuing the recovery instrument, running the court application, obtaining judgment, and enforcing through garnishees, charging orders, writs, or wind-up as needed. Where the debtor enters administration or liquidation, execution extends into proof of debt, priority strategy and negotiation with the appointed insolvency practitioner. Routine documented strategy. Regular communications. A relentless focus on the essential issues.
How we manage cost
Debt recovery covers a wide cost range, from a single statutory demand to a multi-year contested proceeding across borders. What we commit to is one of our five client service promises: clear expectations as to the timing, costs and scope of our engagement, and updating those expectations as early as possible if anything changes.
Value conversation.
A free conversation with the practice lead to work out the realistic recovery pathway before you commit any fees.
Estimate and scope.
Once engaged, you receive a documented strategy and a cost forecast aligned to the stages of your matter. Stage-based budgets, regular reporting, and any scope changes documented and agreed in writing. Where the scope is tight (a single statutory demand, a bankruptcy notice, a discrete enforcement step), we can give you a fixed-price option.
Recovering costs from the debtor.
Where the debt is enforced through court proceedings, the debtor is usually ordered to pay a substantial portion of your legal costs on top of the debt. We factor this into the recovery forecast so you understand the net commercial position.
Litigation funding options.
Where the debt is large and the recovery prospects strong but the client wants to shift the cost risk, Aptum can put a funder in front of you at the value conversation. Funded matters preserve the client's control.
Investment mindset.
Aptum approaches every matter with an investment mindset: the most practical outcome in the shortest possible time, at the least possible cost, with the biggest possible return.
Frequently asked questions
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What is complex debt recovery?
Complex debt recovery is the pursuit of a business debt where a letter of demand or a collection agency won't resolve it. It typically involves large amounts, contested debts, personal guarantees, insolvency-affected debtors, cross-border enforcement, or debts inside a broader commercial dispute. It uses the Corporations Act 2001 (Cth), the Bankruptcy Act 1966 (Cth), state court judgment and enforcement mechanisms, and the PPSR.
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What is a statutory demand?
A statutory demand is a formal notice under section 459E of the Corporations Act served on a company for a debt of at least $4,000 that is due and payable. The company has 21 days to pay, negotiate a settlement, or apply to court to set the demand aside. If none of those happen, the company is deemed insolvent and the creditor can apply to wind it up.
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How long do I have to respond to a statutory demand?
21 days from the date of service. The window is statutory and cannot be extended. Applications to set aside must be issued and served (not just prepared) within the 21 days. Missing the window generally means the company is deemed insolvent.
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What is a bankruptcy notice?
A bankruptcy notice is the equivalent of a statutory demand for an individual debtor. It requires the debtor to pay a judgment debt within 21 days, and failure to comply is an act of bankruptcy that gives the creditor grounds to file a creditor's petition seeking a sequestration order.
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What is a freezing order?
A freezing order (also called a Mareva order or Mareva injunction) is a court order restraining a debtor from disposing of or removing assets pending the outcome of proceedings. It's a powerful remedy but requires a high evidentiary threshold: the applicant must show a good arguable case, a real risk of asset dissipation, and the balance of convenience favouring the order.
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What is a garnishee order?
A garnishee order attaches to money that is owed to the debtor by a third party (bank, employer, trade counterparty) and requires the third party to pay that money to the creditor instead of the debtor. It's one of the most effective post-judgment enforcement tools.
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What is unfair preference and why does it matter for creditors?
Under section 588FA of the Corporations Act, a liquidator can claim back payments a creditor received in the six months before the company was wound up, on the basis that the creditor received more than they would have in the winding-up. It's the single most common way a recovery win turns into a loss six months later. Aptum builds preference risk into every recovery strategy.
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How long does complex debt recovery take?
It depends on the pathway. A stat demand producing payment can take under six weeks. A defended winding-up application typically takes three to six months. A contested debt requiring summary judgment or trial can take a year or more. Freezing orders and other urgent steps can be run in days. We give you a stage-by-stage forecast at the pathways assessment.
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Can I recover legal costs from the debtor?
Yes, in most cases where the debt is enforced through court proceedings the debtor is ordered to pay a substantial portion of your legal costs (usually assessed on the party-party basis). Where the debtor's conduct has been unreasonable, indemnity costs may be awarded. We factor the expected costs recovery into the commercial forecast so you understand the net position.
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Do I need a lawyer for a business debt recovery, or can a collection agency handle it?
Collection agencies work well for small, undisputed invoice debts. For anything with the features of a complex recovery (large amount, contested, personal guarantee, insolvent counterparty, cross-border, or part of a broader dispute), you need a lawyer with insolvency and commercial litigation practice depth. Legal privilege over your strategy and options only attaches to your communications with a lawyer.
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The debtor has gone into administration. Is my debt lost?
Not necessarily. What matters is the priority of your claim (secured versus unsecured), whether you have a valid PPSR registration, and what pool of assets is available. Even unsecured creditors sometimes recover a meaningful percentage. We move quickly to lodge proof of debt, participate in creditors' meetings, and (where relevant) challenge the administration process itself.
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Can I recover a foreign debt in Australia, or an Australian debt overseas?
Yes to both, subject to which country is involved. Foreign judgments from countries listed in the Foreign Judgments Act 1991 (Cth) can be registered and enforced directly. Others require a fresh common-law action on the judgment. Australian judgments can be enforced overseas under equivalent local legislation in each country, and Aptum coordinates with foreign counsel where needed.
Offices
Aptum services complex debt recovery clients across Australia from three offices.
Thinking on complex debt recovery
Aptum publishes regularly on debt recovery, insolvency, statutory demands and enforcement.
Get clarity on your debt recovery matter
Complex debt recovery is a pathway decision. Get the pathway right first and the recovery follows. Get it wrong and you spend more on legal fees than the debt was worth, or lose the recovery to a liquidator's preference claim six months later.
In a free value conversation, Aptum's debt recovery team will tell you the realistic pathway, the security or priority position that is available to you, and what the recovery timeline and cost actually look like. No surprises.
Call (03) 7020 9230
Book your value conversation