When insolvency becomes unavoidable, the right strategy can protect value, reduce risk and maximise recovery.
Insolvency Options
When a company can no longer meet its obligations, insolvency appointments may become necessary.
There are a number of formal insolvency options available, outlined below. The appropriate path depends on the company’s financial position, the level of creditor pressure, and the potential to preserve value.
At McDonald Vague, we approach insolvency with discipline and commercial judgement. Our focus is to maximise returns.
Voluntary Administration
If your business is under pressure but you’re not ready to close the doors, voluntary administration can give you breathing room to properly assess the situation.
It provides you with an independent view of the business. We look at viability, creditor pressure and exposure. This provides the opportunity to stabilise operations and explore restructuring options.
If a turnaround is not possible, administration offers a more controlled process and typically results in a better outcome for creditors than going straight into liquidation.
Insolvency Options
Receiverships
If you are a secured lender and recovery is at risk, you may need to act to protect your position. A receiver can be appointed to take control of secured assets, manage them where appropriate, and realise value in a structured way.
This provides clear oversight of the position and ensures recovery is directed efficiently, with decisions focused on maximising return.
Liquidation
If a business cannot be stabilised or a better outcome achieved, liquidation provides a clear and structured path forward. It brings control, clarity, and an orderly process to realise and distribute assets transparently.
At McDonald Vague, liquidation is approached with discipline and commercial judgement. We assess the position early, control costs, and actively manage recovery to maximise returns.
Our focus is not simply to complete the process, but to deliver the strongest possible recovery for creditors.
Structured. Strategic. Recovery-Focused.
When formal insolvency becomes necessary, execution determines the outcome. We manage liquidations, receiverships and formal insolvency appointments with one objective: Maximise recovery.
Disciplined Cost Management
In insolvency engagements, fees and costs directly impact creditor returns.
We manage appointments with structured systems and careful cost discipline – ensuring that administration does not erode value unnecessarily.
Through our 28-firm national network, we provide on-the-ground support across New Zealand, reducing travel costs and responding quickly where required. Efficiency protects recovery.
Senior-Led Execution
Every appointment is led by a licensed insolvency practitioner.
You deal directly with an experienced practitioner who remains actively involved from commencement through to completion. Our practitioners work collaboratively and constructively with stakeholders to determine the most commercially sound course of action and oversee asset realisation with discipline and care.
Insolvency Options
Experience That Improves Outcomes
We manage more than 100 insolvency appointments each year across a wide range of industries, including construction, hospitality, agriculture, finance, technology and retail.
That volume of experience matters.
Each engagement benefits from the insight gained across sectors — understanding how different industries operate, key contacts, where value may still exist, and how recovery strategies can be structured to improve outcomes.
Our five licensed insolvency practitioners work collaboratively, drawing on collective experience to assess each situation commercially and determine the most effective path forward.
McDonald Vague
Considering Your Options
If you are under financial pressure and unsure what to do next, we recommend early discussion.
In many cases, preparation before a formal appointment improves outcomes and reduces cost. For more detail on our structured approach, see How We Work With You. To understand what differentiates our practice, visit Why Choose Us.
Assess Your Business
Why Choose Us
100+ formal appointments annually
$10M+ returned to creditors each year
Our commercially focused approach is designed to maximise recoveries and protect creditor interests.
Five licensed insolvency practitioners
Every appointment is led by experienced, licensed professionals with deep insolvency expertise.
28-firm national network and global reach
Local support across New Zealand, backed by national coverage and international connections.
Strategy-first approach
We assess every situation carefully to identify the most effective commercial path forward.
Disciplined fee management
Efficient processes and careful cost management help preserve value throughout every engagement.