With Richard Dodaro
When people hear the word insolvency, they often assume the worst. They think of collapse, closure and conflict. They assume it is all legal process, financial stress and difficult conversations. But for the people who work in the industry, that is only part of the story.
The reality is that insolvency is often about helping people understand their position, regain clarity, and work toward the best possible outcome in very difficult circumstances. And for those in the profession, that is exactly what makes the work meaningful.
Richard Dodaro, Assistant Manager at OBP, has worked most of his career in insolvency and says that despite people often seeing the profession as negative, he has found it to be an incredibly rewarding career. What has kept him in the industry is not just the technical side of the work, but the impact it can have on real people and real businesses.
It is not just about winding businesses up
One of the biggest misconceptions about insolvency is that it only begins when the outcome is already fixed.
In reality, many directors come to insolvency practitioners because they want to save their business, protect jobs, and find a structured way forward. That may involve a Small Business Restructuring, a Voluntary Administration, or another formal process that gives the business a chance to stabilise and continue.
Richard speaks about how rewarding it is to see a director receive a positive outcome after weeks of stress and uncertainty. In one recent matter, a restaurant owner was anxiously waiting for the result of a creditor vote on a Small Business Restructuring plan. When the plan was approved, it was a genuine moment of relief, and a reminder that insolvency work is not always about endings. Sometimes it is about giving someone a viable path forward.
A career built on people, not just numbers
Insolvency is often seen as a purely financial discipline, but the people in the industry know that communication matters just as much as technical skill.
Clients are often overwhelmed at the start. They may be under pressure, unsure of the process, and worried about what comes next. A big part of the job is helping them understand the situation, guiding them through what is needed, and keeping communication open so things can move forward in a practical way.
It’s not just about reviewing accounts or dealing with statutory processes. It is about listening, explaining, managing expectations and helping people work through one of the most stressful periods of their professional lives.
Why the profession deserves more understanding
Many people do not realise how much experience, training and professional development is required to become a registered liquidator. It takes years of technical work, formal qualifications and industry experience to step into that role. Behind every appointment is a practitioner who has spent a long time developing the judgment needed to deal with complex and sensitive matters.
That matters because good insolvency advice can change outcomes. The right practitioner does not just apply a process. They help directors understand their options, make informed decisions, and avoid letting problems spiral further than they need to.
Why someone should consider a career in insolvency
“Yes, it is demanding work. It requires technical ability, commercial judgment and resilience. But it is also varied, challenging and deeply people-focused. No two matters are exactly the same, and the work often gives you the chance to make a real difference at a time when clients need clarity the most.”
At its best, insolvency is not about failure.
It is about stepping into difficult situations, bringing order to uncertainty, and helping people find the best available path forward. Sometimes that means restructuring. Sometimes it means closure. But in every case, the work matters because the people behind the numbers matter.
That is what makes insolvency more than just a profession. It is a career built on problem-solving, trust, and helping people when they need it most.
If you would like to speak to Liam, Richard or any one of our skilled practitioners, please get in touch today.
(61) 2 9232 3322
obp1@obp.com.au
obp.com.au