Navigating Company Restructuring: Restructuring of Companies by Specialist Advisers and its Associated Risks

The case of Connelly (liquidator) v Papadopoulos, in the matter of TSK QLD Pty Ltd (in liq) (TSK) [2024] FCA 888 provides important insights into the serious implications for directors and officers of companies and professional advisers involved in the restructuring of companies when later found to be asset-stripping schemes. When restructuring, companies must conduct thorough due diligence and plan for a smooth transition to mitigate operational risks.