Peter and Travis recently spent time in Bali joining our friends at Helm Advisory, GM Advisory, and Insolve for their Litigation & Insolvency Conference.
Now in its fifth year, the conference brought together leading lawyers, insolvency practitioners, academics, and industry specialists to share perspectives and learnings through a series of panels, presentations, and case studies.
Held over three days, the conference saw both Peter and Travis take part in several panels, sharing their deep experience and insights.
It was also a great opportunity to spend time with others across the insolvency and legal community, compare experiences and tackle some of the profession’s challenges together.
What inspired you to pursue a career in insolvency?
I actually wanted to get into insolvency! A lot of people are surprised and say, “Oh, really?” because everyone else just kind of falls into it.
When I was in high school, my dad worked for a company that went into voluntary administration. He gave me the reports to read. I just found the process so interesting.
I think it was probably around the time when I was making career choices and picking subjects, and I just thought, that’s what I want to do. So, after I finished my accounting degree, I looked for an insolvency graduate job, and my career went from there.
So you’ve only ever worked in insolvency?
Yes. I’ve worked for two firms previously. I was at the first firm for 11 years, then at the second for a few years before COVID, and then I took a career break to raise my children. In both firms, I worked on corporate and personal insolvency matters.
How did you come to be working at B&T?
I’ve got three young kids, and recently I decided I wanted to get back into part-time work. I told my husband my plan, and that exact same day, a recruiter messaged me on LinkedIn and said, “If you’re looking for anything, let me know.”
I rang him and said, “Excellent timing. Yes, I am.”
He told me about a great opportunity at B&T Advisory, and I’ve been here for just over a month.
How have you found the transition back to work?
It’s nice having a different challenge from home life.
I’m working remotely, so there’s the challenge of being my own company all day, but I’m enjoying it so far.
What does your role at B&T involve?
I’m working with Neil as part of his team.
At the moment, I’m working on a few existing files and supporting the team on matters as they come up.
What personal or professional achievement are you most proud of?
Professionally, I would probably say getting my qualifications as a chartered accountant.
Personally, it’s my kids… obviously!
What is the most rewarding aspect of the work you do?
Insolvency can be an emotional process for everyone involved, but I think it’s just being the person who can guide people in a professional and reassuring way.
What have you learned from colleagues that has made you better at your job?
I’ve worked with some great people, and I think you draw inspiration from each of them by watching how they operate and what you like or don’t like.
A couple of things have really stood out for me.
One of the first practitioners I worked for as a graduate said, “Have a go, because pretty much anything can be fixed if you make a mistake. So, don’t be afraid.”
Another practitioner always said to the team, “Never burn a bridge,” because you never know when you’ll see that person again or if you might need something.
I think they’re the two standouts.
Is there a book or podcast that has influenced you recently?
I wish I had time!
I don’t even remember the last book that I read. I’ve got books sitting on my bedside table now. One day. One day.
What would you like people to know about you as part of the B&T team?
I’m excited to work with the team at B&T Advisory. One of the things that was important to me when getting back into insolvency was working in small teams and working closely with people.
I’m a very shy person, so part of me feels like, “Don’t write anything about me,” but here we are!
They’ve been really welcoming, so I’m loving my time here.
Australia’s property market appears to be slowing, and falling property prices don’t just affect homeowners and investors.
For business owners who have traditionally relied on equity in their home or investment properties to support their businesses, this could have a flow-on effect.
Less equity means fewer people can borrow, reborrow or redraw into their account.
At the same time, interest rates are higher, so people’s borrowing capacity is already down. Loan applications are down, and approvals are down.
Additionally, properties are staying on the market longer before they sell, and new stock isn’t necessarily coming onto the market either.
It seems that everything is grinding to a halt.
When the equity isn’t there anymore
For businesses experiencing cash flow pressure and carrying debt, access to equity has kept things going. They may have used money out of their own cash reserves or tried to access equity from their property. That’s getting harder now and losing access to that equity creates a problem.
And the problem is twofold. You have people who have only their matrimonial home, and you have people who own investment properties. If their mortgage repayments are going up and they see their property value coming down, the current market makes it hard to sell and unlock that equity. Rent prices will keep increasing which will also have a flow on effect on disposable income.
At the same time, creditor activity is increasing, and we’re seeing the ATO issuing a high number Director Penalty Notices and taking action against businesses.
There’s also the issue of negative equity for people who bought property with a small deposit.
With the 5% deposit scheme, unit prices under a million dollars suddenly started going up. Demand was going through the roof.
The RBA data below shows that the share of first home buyers borrowing at LVRs of 90% or more increased sharply after the Australian Government expanded the 5% Deposit Scheme in October 2025.
Now, if property prices continue to fall, we could see another potential flow-on effect: people who got into the market with a 5% deposit could end up in negative equity.
From an insolvency perspective, we don’t anticipate a significant impact in the short term. It needs to filter into the economy a little bit more.
The impact is likely to become clearer as home owners start applying for loans and realise they’re getting knocked back or can only borrow less than they could a few months ago.
That will affect their ability to keep trading their business without that cash, and the question then becomes: can the company keep trading?
That’s where getting advice sooner rather than later becomes important.
Struggling business owners shouldn’t sit on their hands. They need to be proactive and seek advice from an insolvency practitioner or a trusted advisor.
What should accountants and lawyers be looking out for?
If a client comes to their accountant or lawyer and says, “I’m in a bit of strife and need to release some cash,” it’s time to consider their options.
Don’t necessarily rely on the big four banks.
There are other lenders out there who can assist. Obviously, we’re not talking about lenders of last resort, but second-tier lenders with slightly higher interest rates that may look at a borrower more favourably than a bank.
We’re also seeing more people relying on private lending.
You’ve got to be aware of the risk in going to lenders of last resort. If you’re seeing interest rates at 4% per month or equivalent, don’t jump in and sign up. Be wary of large establishment fees and the like.
We know that desperate situations can make people do things they probably would never have dreamed of doing.
People seem to be paralysed
Interestingly, we have seen a bit of a downturn in insolvency work in recent times which is due to various factors. That said, in recent weeks the enquiry and conversion rates have increased but I would call things “patchy”.
Maybe things are so bad that everyone’s a little bit paralysed.
For business owners facing these pressures, it’s about making the decisions you can with the information and data in front of you, and relying on a group of trusted advisers for that advice.
It’s not burying your head in the sand. It’s: “Okay, yep, this is a bumpy time. Let’s get all of the people in our corner to help us through.”
If you’ve got a client who is experiencing cash flow difficulties, you can reach out to us for a confidential discussion.
Allan Manzi, the newest team member of B&T Advisory’s Sydney office, shares how working across three countries has shaped his career, why he enjoys the problem-solving side of insolvency and the book that has had the biggest impact on him.
Welcome to B&T Advisory! Tell us a little about your background.
I first started in insolvency at another advisory firm in 2023. That’s where I was introduced to insolvency at a graduate level and came to understand what insolvency is, what ASIC and the ATO do, and all the stakeholders involved. It was pretty interesting.
After more than a year in Sydney, I moved to Cairo, Egypt, where I worked for the African Export-Import Bank. The work was similar in that it involved debt restructuring, but on a much broader level. We were working with sovereigns rather than SMEs, helping African countries with trade finance solutions and debt restructuring.
It was quite exciting because I was able to apply the experience I’d gained in Australia to international matters. More recently, I came back to Sydney and joined B&T Advisory, doing the same type of work again.
What was it like living and working in Egypt?
I don’t speak Arabic because I was only there for a few months, but it was an opportunity that came my way, and I thought I’d give it a try.
I learned to read the Arabic alphabet, which was actually really helpful. Every time you grabbed a taxi, you had to read the number plate, which was written in Arabic; otherwise, you could easily end up in the wrong car.
It was quite interesting to be exposed to different cultures and countries.
What’s a professional achievement you’re most proud of?
One of the things I’m most proud of is the bachelor’s program I chose. It was a four-year program where I started in Singapore, went to Dubai and finished in Sydney.
That experience gave me the opportunity to study and work across three different cities, which taught me how to adapt to different cultures and different ways of working.
I think it’s also given me the confidence to recognise a good opportunity and be willing to move countries to pursue it. It’s something I’ve really taken with me.
What do you find most rewarding about working in insolvency?
On a professional level, it’s about understanding what’s happening on the ground for business owners and sole traders in Australia, and how we can help them.
Working in insolvency and pre-insolvency gives you an understanding of how stakeholders come together and the roles they play.
The most rewarding part is helping directors and employees who need assistance. Sometimes we work on appointments where there are many employee entitlements involved, and when you’re able to realise assets and distribute a dividend to creditors or employees, that’s really satisfying.
There are many emotions involved in these matters, so helping people through that process is something I find rewarding, both professionally and personally.
What’s something you’ve learned from your colleagues that has made you better at your job?
At B&T Advisory, we have an open environment where we can interact with one another and learn from the team.
I’ve learned a lot about diligence, meticulous report writing, and handling the tight deadlines that come with insolvency.
Beyond the technical side, we also share personal stories and experiences. It’s a really good team, and I think that contributes positively to who you are as a person and professionally.
I hope I’m able to help other people too. It can’t just be one way.
Is there a book or podcast you’ve enjoyed recently?
I recently finished reading The Alchemist.
I really liked the story of a young boy chasing his ambitions, only to realise that what’s most important in life is the relationships you have. I think that’s the most important thing in life, and everything else comes second.
I’ve also been listening to Diary of a CEO and, more recently, a podcast called Wealth Beyond Borders.
The host talks to people who have built careers and wealth beyond the countries where they were born. I really resonate with that because she grew up in Africa, moved to the United States and then to London.
The podcast explores remote work, AI, the future of work, and how people can create opportunities across different countries. I’ve really enjoyed it over the past few months.
The Sydney office has had a busy 12 months, with continued growth, a new team member and a move into a new office.
In this update, Troy Graham shares what he’s learnt over the past year, what he’s seeing in the market, and how B&T Advisory is continuing to grow its presence in Sydney.
A busy first year
Heading up the Sydney office has been a new challenge.
Instead of just being “on the tools”, so to speak, the focus for me has expanded to sourcing new work, developing new relationships, maintaining the day-to-day running of the office, recruiting and training staff, and working closely with Travis and Peter on the realities of growing an office.
It’s been a real eye-opener to see what it takes to run an office, rather than simply working on files and focusing on a particular matter.
My role has also involved building on the Brisbane team’s existing relationships in Sydney and further developing those connections.
It’s been a busy 12 months, but very rewarding! We’re off to a good start.
Building a presence in Sydney
Over the past year, B&T Advisory has continued to establish itself in the Sydney market.
Since commencing with B&T Advisory, we have established a foothold in the marketplace. People know where I am and now know about B&T Advisory and the calibre of our work. It’s now a matter of continuing the calibre of our work, and maintaining the momentum we have established.
To help us do that, we’ve recently welcomed Allan Manzi, who joins the firm at an intermediate level and will work alongside Rami and the team on casework.
Having an additional team member allows us to process more enquiries while also creating the opportunity to spend more time meeting with referrers, clients and developing relationships.
I’m a big believer in organic growth, with a focus on building capability, helping people develop their skills through training, and steadily growing the office in line with the volume of work.
A new home in the Sydney CBD
The team’s growth has also led to a new office.
We’ve moved to Level 10, 109 Pitt Street, giving the Sydney team its own dedicated space and our very own boardroom!
Looking ahead
The common idea in the insolvency marketplace is that it’s only just going to get busier.
The ATO is continuing to play catch-up after going into what I’d describe as “slumber mode” for two – three years during COVID, and debt recovery shall continue to become even more aggressive.
This will make it harder for businesses that wish to refinance or restructure, with many facing an 11th-hour situation before they can act.
Generally speaking, the ATO is a creditor in almost every matter we work on, so I certainly see the insolvency and restructuring market continuing on an upward trajectory.
This is one of the key reasons we’re continuing to invest in the Sydney office. With a growing team and our new Pitt Street office, we’re well placed to continue supporting clients and referrers while building momentum in the Sydney market.
