Cathro & Partners launches personal insolvency service line

Australian insolvency advisory firm Cathro & Partners has expanded its portfolio with a new service line focused on personal insolvency.

Simon Cathro, Managing Partner at Cathro & Partners, said that the launch of the new offering comes in response to growing demand for personal insolvency work, at a time when the number of companies and individuals facing financial distress is at a multiyear high.

Data from the Australian Financial Security Authority shows that the number of personal insolvency appointments in the first quarter of this year was significantly higher compared to the same quarter last year. “The decision to expand into personal insolvency aligns with market trends,” said Cathro.

Unlike corporate insolvency, personal insolvency matters involve individuals experiencing financial hardship and seeking relief from their debts. This includes bankruptcy and personal insolvency agreements to prevent bankruptcy and pay creditors a higher return than they would receive in bankruptcy, generally with shorter repayment terms.

“Our new offering helps individuals with resolving their financial difficulties,” said Cathro, among others through offering advice around and access to solutions like bankruptcy, controlling trustee and personal insolvency agreements.

Leading the new service is Declan Lane, Queensland State Manager at Cathro & Partners, who holds both the Registered Bankruptcy Trustee and Registered Liquidator qualifications. “I am pleased that Cathro & Partners will now be able to help people find a solution for clients’ personal or company’s financial situation”, he said.

Launched in 2021, Cathro & Partners is a boutique consulting firm dedicated to restructuring and turnaround services. The firm also has offerings for corporate clients and public sector agencies.