Insolvency & Bankruptcy Lawyers Townsville, Mount Isa & North Queensland

Financial difficulties are stressful enough. Having the right legal support should not add to the burden.

At Cohen Legal, we guide directors, shareholders, creditors, suppliers, and individuals through insolvency and bankruptcy with clarity and practical solutions.

Based in Townsville and serving clients across Mount Isa and North Queensland, our lawyers deliver practical solutions grounded in Australia’s insolvency laws and attentive to your local context.

A business is considered insolvent if it cannot pay its debts as and when due 

For individuals, bankruptcy is a legal status under the Bankruptcy Act 1966, administered by AFSA, who manage asset distribution and debt relief 

Pre-Insolvency Advice

The best time to seek legal advice is before formal insolvency begins.

We conduct a review of your financial position, whether business or individual, to help you understand your position, assess restructuring or refinancing options, and put strategies in place to minimise your risk.

Early advice can often prevent insolvency altogether, so if you’re suffering financial difficulties, it’s not too late to speak with our team who can provide valuable advice on how to best protect your assets prior to any potential insolvency

Bankruptcy

For anyone experiencing financial hardship we can offer practical advice on how to best navigate the issues that can arise. We will guide you through the process and ensure the best outcome possible.

For Creditors or Suppliers

When a company goes into liquidation, the liquidator can often take back payments that were made to creditors shortly before the company collapsed. These are called “preference payments” and they can leave you out of pocket even if you were already paid. Trying to shut down (wind up) a company that owes you money should only be a last resort, because it doesn’t guarantee you’ll be repaid. The same goes for individuals, making someone bankrupt doesn’t automatically mean you’ll recover the debt.

That’s why it’s important to get practical legal advice before taking action. Cohen Legal can help you understand your options and the best way to protect your position.

For Company Directors

If you run a company, you have many strict legal duties, and breaking these rules can make you personally liable for company debts. We help directors understand their obligations and explore options to protect you personally and, where possible, give your business a chance to recover.

We can help:

• In defence of winding up applications
• Applying to the court to set aside statutory demands received from eager creditors

Liquidators have the ability to claw back what they consider are uncommercial loans and other voidable transactions. We can assist in defending such claims.

Why You Need Expert Help

Recent trends highlight the urgency:

• Small business restructuring engagements surged 219%, while insolvency appointments increased by 39%
• Personal insolvencies continue to rise, affecting especially those with unsecured debts – even in the $50k range. 

Why Choose Cohen Legal

• Regional Insight: Local legal advice serving Townsville, Mount Isa and North Queensland businesses and individuals, mindful of regional market realities.
• Practical Experience: We combine legal knowledge with business insight—helping you keep control where possible and act decisively when needed.
• Trusted Team of Lawyers: Known for clear communication and client-focused outcomes.