Insolvency consultancy SV Partners opens Adelaide office

Insolvency consultancy SV Partners has established an office in Adelaide, its seventeenth locale in the country.

According to Terry van der Velde, the co-founder of SV Partners (together with Paul Sweeney in 2003), the foray into Adelaide positions the firm to add an entirely new market to its footprint. “It allows us to take on a market in which we have not previously been active in,” he said.

Under Van der Velde’s leadership, SV Partners has grown into one of Australia’s larger accountancy and consultancy groups dedicated to insolvency and restructuring. The firm originated in Queensland, and following organic and inorganic expansion (acquisitions of CJL Partners in 2011 and RMG Partners in 2013) SV Partners currently has over 100 staff, including over 70 accountants, across the Eastern Seaboard (Queensland, New South Wales, Victoria and Tasmania) and Western Australia. 

The Adelaide operation is led by Stuart Otway and Alan Scott, who both joined from rival firm BRI Ferrier, where they were a Principal. “Both Stuart and Alan are registered liquidators and registered trustees in bankruptcy. They bring a wealth of knowledge and collectively have over 50 years of experience with an exceptional understanding of local business and industry,” said Van der Velde.

In their slipstream, four other experienced advisors have joined them from BRI Ferrier to SV Partners: George Divitkos, Matthew Ormsby, Stuart Starr and Travis Olsen. Van der Velde: “The team have proven experience in providing comprehensive and unique insolvency solutions to their appointments across a vast range of industry specialisations.”

Across the nation, SV Partners supports businesses that face hardship with a range of restructuring, financial accounting and crisis management services, including voluntary administration, creditors’ voluntary liquidation, court liquidation, receiverships, turnaround, litigation, forensic accounting, as well as personal insolvency and administration of estates for individuals. 

Commenting on the transfer, Otway remarked: “[I am] delighted to join a team of professionals that are driven to helping their clients and local businesses. It is also exciting to be bringing some local knowledge to a newly established market for SV Partners. We look forward to the new year ahead with a fresh start.” 

According to Insolvency News Online, which first broke the news before SV Partners sent out a formal communication, rival restructuring consultancy Jirsch Sutherland is also eyeing an entry into Adelaide.