In this section, Australian Company Liquidations provides the latest news and tips in business insolvency and liquidations.
What Are Liquidated Assets?
What Are Liquidated Assets? The term "liquidated assets" refers to everything of value that is sold off to pay creditors while a business is liquidating or restructuring. To pay off the company's debts, the money obtained from the asset sale is often distributed to the creditors. In Australia, this is the most common business proceeding before liquidation. Businesses can sell their assets, which can include investments, vehicles, machinery, raw materials, and real estate. What types of assets can be liquidated?
READ MOREWhy is it important to keep good relationships with creditors?
Why is it important to keep good relationships with creditors Maintaining a positive working relationship with creditors is essential to a company's success. Failure to do so might result in unmanageable debt and the unwelcome prospect of liquidation. Knowing how to deal with creditors is a skill that can be learned fast, and we'll look at a variety of reasons why it may be the difference between success and failure. Maintaining a balance between when you have to pay creditors
READ MOREWhat Happens to a Director Loans or Drawings Account in a Liquidation?
What is a Director Loan or Drawings Account? A Director Loans or Drawings account shows an amount owed by a director to the company. This account typically appears as a company asset in the form of a Director Loan Account on the company’s balance sheet. How does this occur? At Australian Company Liquidations, we typically encounter the following scenarios when dealing with Director Loan accounts: The company’s accountant has advised that tax can be minimised to save cash flow by
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