2. Together we unlock value PPB and SimsPartners, two of Australia’s leading financial and strategic advisory firms merged on 1 July 2008 to create the dynamic new practice known as PPB. Originally four leading independent firms formed the new partnership combining the strengths of the Brisbane and Sydney practices of SimsPartners and Melbourne and Sydney practices of PPB, into a single practice with a corporate governance and management structure designed to support our values and unique culture. Subsequently the Perth practice joined the group. Combined with our Adelaide office, PPB have a national team of 31Partners and over 250 staff and bring a unique, innovative approach and a new dimension to our specialist services.
3. What is Statutory Recovery? A large number of Court appointed insolvency matters nominated by unsecured creditors, primarily Bankruptcy and Official Liquidation We work together with petitioning creditors, their solicitors and with debtors to obtain the best results for all parties, unlocking value not otherwise realised.
4. Our Practice A large number of Court appointed insolvency matters nominated by unsecured creditors, primarily Bankruptcy and Official Liquidation We work together with petitioning creditors, their solicitors and with debtors to obtain the best results for all parties, unlocking value not otherwise realised.
16. Specialisation The PPB Statutory team permanently work on bankruptcy and liquidation files No funds files are not ‘bottom of the pile’ Able to marshal significant resources quickly Access to staff nationally PPB’s specialist resources (e.g. litigation support, forensics, advisory, industry specialisations) Not distracted by non-statutory files Expertise in dealing with difficult people and situations Recognised expertise by industry bodies and regulators
17. Experience More than 2,000 liquidations and 1,000 bankruptcies since 2003. 7 teams of dedicated staff. Our people: Are skilled interviewers of directors and bankrupts Know the law to obtain records from third parties (accountants, lawyers, banks, others); Are committed to personal development and specialised knowledge Investigate beyond the standard checklists; Conduct bank sweeps of all major banks; Follow leads others miss; Will not take no for an answer; and Get results for creditors
18. Consents At PPB we believe that if you want to nominate a liquidator or trustee the process should be as simple and quick as possible. We: do not need to know detailed information about the proposed appointment including whether you are aware of any realisable assets; generally will not seek an indemnity before appointment will not ‘find a conflict’ because there is no guarantee of asset recoveries; can be contacted by phone, fax, email or letter as most convenient to the client; or return the consent by the end of the next business day (or sooner by request).
19. Systemisation Recognising that you can’t get blood from a stone and that a high proportion of matters will have no realisable assets PPB invests in systems and processes to: identify and complete unfunded jobs as soon as possible provide timely reports to petitioning creditors; work together with the petitioning creditor to maximise returns; and keep all creditors appraised of PPB’s strategy
20. Investigations Every file gets a thorough investigation. We: are not deterred if the director/bankrupt fails to deliver records; invest in disbursements (searches, valuations, bank statements, transaction records, directors’ net worth); frequently issue statutory notices; conduct regular examinations; issue demands for recovery of voidable transactions and insolvent trading commence many recovery actions maximising return legal work; work hard to settle claims early to maximise creditor returns
21. Results More Litigation More Legal and Collection Work More Settlements More Recoveries Most Petitioning Creditors Costs Paid Most Dividends to Creditors More Annulments and Terminations Satisfied Clients & Referrers PPB is the Market Leader in Statutory Recovery PPB wants all of your Unsecured Referrals
Additionally from the Statutory Group point of view Roo & his team of people joined us on 1/1/09.
As they say the proof is in the results.Costs – 08/09 average $3,404 , 09/10 year to date average - $3,404Dividends paid2008/20090 – 25 – 1726 – 50 – 851 – 99 – 1100 – 232009/2010 year to date0 – 25 – 1126 – 50 – 451 – 99 – 0100 – 4