In this section, Australian Company Liquidations provides the latest news and tips in business insolvency and liquidations.

How does the Business Liquidation Process work? (updated guide for 2022)

How does the Business Liquidation Process work? (updated guide for 2022) Why choose liquidation for your company? A company can go into liquidation when it is declared insolvent, which means it can't pay its debts on time. This can happen voluntarily or involuntarily. Some companies may find that liquidating as an exit plan is the best course of action if they are not generating enough revenue to sustain the business. For example, if you cannot keep up with your competitors, if

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What is a Director Penalty Notice?

Have you recently received a Director Penalty Notice (DPN) from the Australian Taxation Office (ATO), but don’t have the means to repay the tax debts being demanded? Worried you might lose your family home or other valuable personal assets? Don’t panic you may still have options to avoid strict personal liability, if you have lodged your Business Activity Statements and Superannuation Guarantee Statements (within 3 months of their due dates).  If you have lodged these statements but not paid the

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What is Provisional Liquidation?

What is Provisional Liquidation? Provisional liquidation is an interim procedure to protect a company's assets under specific circumstances. If you are a shareholder, director, or creditor, you may think about provisional liquidation to keep the company's assets safe and secure. According to the law, the provisional liquidation procedure can only be initiated under particular conditions. What situations call for provisional liquidation? Investors think directors are acting recklessly. Shareholders who don't like what the directors are doing can ask for provisional

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