In this section, Australian Company Liquidations provides the latest news and tips in business insolvency and liquidations.
What does it mean when a company goes into liquidation?
What does it mean when a company goes into liquidation? When a company is facing insolvency or extreme financial difficulty, company liquidation is the process of closing the business, selling the assets and paying as much debt to creditors as possible. In Australia, there are two paths to liquidation for insolvent companies. Creditor's voluntary liquidation occurs when creditors vote for liquidation after a voluntary administration or terminated deed of company agreement. Court liquidation usually happens after a creditor has applies
READ MOREHow to Close Down your Company and Appoint a Liquidator
Closing down your company can be a stressful time. If your company cannot afford to repay its debts, it is most likely insolvent. As a director, you have an obligation under the law not to incur any further debts when your company is insolvent and you may wish to consider winding it up and appointing a liquidator. Liquidation If your company is insolvent, liquidating the company means your business stops operating and a liquidator is appointed either by the shareholders
READ MOREWhen is the Best Time to Liquidate My Company?
When is the Best Time to Liquidate My Company? Deciding when to liquidate a company can be challenging. Many factors play a role in the decision and whether you move forward soon with the process. There are several details to discuss and analyse before placing your company into liquidation. Assessing Whether the Company is Solvent or Insolvent Before moving further in the process, you need to establish if the company solvent or insolvent. This is important because the liquidation processes
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