with Adrian Franco
When most people hear the word insolvency, they think of numbers.
Debt. Creditors. Bankruptcies. Repayment proposals. Returns in the dollar.
But for Adrian Franco, Assistant Manager at O’Brien Palmer, insolvency has never been just about dollars and cents. It is about people.
It is about the family behind the business. The person sitting at home wondering how things got to this point. The director who has spent years trying to hold everything together. The creditor who is relying on a dividend to help with their own expenses.
As Adrian explains, financial distress carries a heavy mental and emotional burden. And for insolvency practitioners, understanding that human side is essential.
Adrian’s path into insolvency began earlier than most
Growing up, he saw family members go through financial difficulty. That gave him an early understanding of what insolvency feels like from the other side, not from behind a desk, but from inside the home.
One memory has stayed with him. As a young child, Adrian went with his father to collect books and records from a man whose business had come to an end. The office was almost completely bare. There was one box being used as a seat, and another box holding the records they had come to collect.
To an insolvency practitioner, collecting records may sound routine. But to Adrian, even as a child, it was clear this was someone’s life being packed into a box.
That moment showed him that insolvency is not just an administrative process. It affects people emotionally, mentally and personally.
Why empathy matters
It can be easy for people to see insolvency practitioners as the “bad guys”. They are often brought in when the money has run out, creditors are demanding answers, and people feel overwhelmed, embarrassed or afraid.
But good insolvency practitioners are not there to punish people. They are there to bring structure to chaos. They explain the options. They deal with creditors. They create a fair process. They help people understand what can be saved, what needs to change, and what the next step should be.
That requires technical knowledge, but it also requires humility.
As Adrian says, “there is always more at play than the financial position. There is stress, fear, family pressure, and often months or years of trying to keep things together before asking for help.”
Good outcomes can help both sides
One of the misconceptions about insolvency is that there must always be a winner and a loser. In reality, the right process can create better outcomes for everyone involved.
Adrian recently worked on an agreement that delivered a return of more than 16 cents in the dollar. Creditors were happy with the result, and the debtor was able to reach a compromise and make a fresh financial start.
In another bankruptcy matter, O’Brien Palmer paid a dividend and received positive feedback from creditors who said the money would help with personal expenses, including supporting their children through school during the cost-of-living crisis.
That is the side of insolvency people rarely hear about. A dividend is not just a figure in a report. It can mean groceries. School costs. Rent. Relief.
Insolvency is never easy
It involves difficult conversations, emotional pressure and hard decisions. But it doesn’t have to be the end of the road. With the right advice, it can provide clarity. It can help people stop carrying the burden alone. It can create a structured way forward for debtors, creditors, directors and families.
The right option depends on the circumstances, but the starting point is always the same: seek advice early. The earlier people speak up, the more options may be available.
At O’Brien Palmer, the role is not to judge. It is to listen, explain the options clearly, and help people find the most realistic path forward. Because insolvency is not about failure. It is about understanding your position, protecting what matters, and finding a way forward.
For a confidential conversation with the team at O’Brien Palmer:
Call: (61) 2 9232 3322
Email: obp1@obp.com.au
Visit: https://obp.com.au
RESOURCES
The Personal Impact of Financial Distress on Your Mental Health and Wellbeing
Experiencing financial hardship can take a significant toll on both mental and physical health. The stress and anxiety from uncertainty can lead to sleepless nights, worry over how it will affect loved ones, and the heavy burden of financial pressure affecting future plans.
If you, your work colleagues or family members are experiencing difficulties coping during this time, please put them in touch with any of the following resources below.
