Your lender found out about the winding-up application.
Give the lender accurate case information and assess the facility documents before making assurances about funding, security or the hearing outcome.
Corporate Recovery Partners
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The bank has questions about the pending application
A wholesaler’s bank calls after learning of a winding-up application. The director wants to reassure it that the case is just a misunderstanding. The company’s facility funds imported stock and contains reporting obligations the director has not recently read. The next conversation needs verified facts and advice on the implications for the facility.
Ask what information the bank has and what it requires. Record the contact, requested documents and response date. Provide the actual proceeding details through the appropriate authorised person.
Do not describe an application as dismissed, withdrawn or resolved unless that outcome is confirmed. The Federal Court’s guidance distinguishes the application and hearing process from the eventual orders.
Collect the facility, variations, guarantees, security and recent correspondence. Ask a lawyer to identify relevant notification, default and consent provisions.
Do not assume every lender has the same rights or that the application automatically produces a particular consequence. The response should address the actual contract and current court position.
Supply a reconciled cash forecast, creditor position and evidence for proposed settlement or funding where appropriate. Separate available funds from applications and informal support.
Show what happens if the lender restricts availability or delays a drawdown. That contingency matters when stock orders or payroll depend on continued access.
Nominate a contact to keep updates consistent with legal advice. Track any agreed facility change in writing, including reporting conditions, costs and security.
Continue preparing for the court timetable. A constructive lender conversation does not resolve the proceeding, and a court development may require the funding plan to be revisited immediately.
