In this section, Australian Company Liquidations provides the latest news and tips in business insolvency and liquidations.
Why A Company Liquidation Could Be the Best Thing for Your Business
Are you thinking about liquidating your company, but you aren’t sure if it is the right decision or not given all of the government stimulus packages which are available at the moment? If your company was insolvent before all of the government stimulus was put in place then it is likely that your business will continue to be insolvent when the government stimulus comes to an end. At Australian Company Liquidations, we have listed below the top 5 reasons why
READ MOREWhat you need to know about Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020
On 5th of February 2020 both houses of parliament passed the Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2019. This legislation was to target and address illegal phoenixing activities. Please click here if you would like to learn about what is a phoenix company. Below is a summary of the changes introduced with the new legislation: Phoenixing offences: In targeting those who conduct or facilitate illegal phoenixing, enforcement options were strengthened through the introduction of new phoenix offences and
READ MOREACL – Avoid a Company Liquidation with a Voluntary Administration?
Did you know you might be able to avoid a Company Liquidation with a Voluntary Administration? So you might ask what is a Voluntary Administration? A Voluntary Administration is commenced by the company director appointing a Voluntary Administrator (rather than a liquidator). The Voluntary Administrator will initially assess the financial affairs of the company and will assess whether it can continue to trade. The Voluntary Administration usually runs for a 30 day period and at the end of the period,
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