When your company experiences financial distress, a company liquidation may be a possible option for you to consider.

Liquidation refers to the winding up of a company’s affairs. There are two types of liquidation:

1. Creditors’ Voluntary Liquidation

2. Compulsory Court Appointed Liquidation

A Creditors’ Voluntary Liquidations is when the company’s directors and shareholders decide to wind up the company’s affairs. In comparison, a Compulsory Court Appointed Liquidation is when the court orders that the company be wound up, usually upon the petition of a creditor.

But what exactly is the purpose of a liquidation?

When a company is placed into liquidation, it is the role of the liquidator to perform the following primary functions:

1. To identify and sell any assets of the company for the benefit of creditors;

2. To prepare and file a confidential report with the Australian Securities and
Investments Commission;

3. To identify and recover any preferential payments;

4. To identify and recover any uncommercial transactions; and

5. To identify and recover any unreasonable director-related transactions.

Here at Australian Company Liquidations we can help explain the purpose of a company liquidation in easy to understand terms. Call our free 24 hour insolvency hotline for assistance on 1800 981 070.

A Company Liquidation is essentially the same if you decide to liquidate your company on a voluntary basis or the court appoints a liquidator.

However, the main difference between a liquidator appointed voluntarily and a court appointed liquidator is who gets to choose the liquidator.

A Creditors’ Voluntary Liquidation is when you voluntarily place the company into liquidation. In this scenario, you have the choice to appoint a liquidator of your own choosing.

This can be beneficial because then it means you are in control of who gets to oversee the liquidation. You can do research and confident in their abilities.

Being able to choose the liquidator can give you some confidence which you won’t get if you allow your creditors to take control of the liquidation process.

On the other hand, compulsory liquidation, or a Court initiated liquidation, is when the courts or the petitioning creditor nominates the liquidator and you don’t have any say in the matter at all.

Regardless of who appoints the liquidator, all liquidators must do their job professionally and report their findings to the creditors and act impartially.

Looking for an experienced and reliable liquidator that you can trust?

Australian Company Liquidations are all fully licensed and Investments Committee. We also run a toll-free advice line for those who are looking for free expert advice. If you would like a consultation with our experts then please call us on our 24/7 hotline on 1800 981 070.

Want to have your company liquidated by a registered liquidator but want to get it for the cheapest cost possible?

Some companies talk about the cheap liquidation trap – but if your company is insolvent and needs to be liquidated the only thing you need to worry about
is that you engage the services of a registered liquidator. You should never deal with a middle man or an unlicensed broker who will not be able to deliver
what they promise!

WE ARE FULLY QUALIFIED AND
LICENSED LIQUIDATION PRACTITIONERS

Here at the Australian Company Liquidations you don’t need to worry because our practitioner is a fully registered liquidator with the Australian Securities and we have passed on those savings to you! As such we are proud to say that we can deliver the cheapest liquidation in Australia!

We can also quote you a fixed up-front payment to conduct the liquidation so you know from the outset how much it will cost you so there won’t be any surprises down the track.

Don’t overpay for a company liquidation and call the Australian Company Liquidations today! If you want to keep your details private you can contact us on an anonymous basis until you feel comfortable to proceed with the company liquidation.

Don’t liquidate your company until you have obtained a quote from us. You can call us any time 24 hours a day / 7 days a week for a confidential company liquidation quote.

Call now on our toll-free hotline at 1800 981 070. Our advice is completely impartial and will come at no cost to you.

Are you concerned about your company’s level of debt?

Have you been searching for impartial, confidential and expert liquidation advice in Sydney?

If your business is in a dire financial position and struggling with an insurmountable amount of debt, Australian Company Liquidations (ACL) can help. Facing the prospect of liquidation is no light matter, so for the best corporate insolvency advice, call us at Sydney’s leading insolvency firm.

The consultants at ACL are fully licensed and insured, as required by the Australian Securities and Investments Commission, so you can rest easy knowing that our liquidation advice for Sydney business owners is drawn from years of experience and expertise.

WE ARE FULLY QUALIFIED AND
LICENSED LIQUIDATION PRACTITIONERS

We offer a free initial consultation for all those who call us. During this free consultation, you will receive impartial advice from Sydney-based consultants who can give you a clear idea about your best options.

At ACL, we underst and the sensitivities involved in corporate insolvency matters. That’s why we respect your wishes for confidentiality and will never give out your information to third parties.

Call ACL now on 1800 981 070. Our liquidation advice hotline operates 24 hours a day, seven days a week, so you can reach us when it suits you.

An alarming warning has been issued by one of Scotland’s leading experts in corporate financial distress, stirring unease and angst amongst directors of companies around the world. Matt Henderson, restructuring partner for accountants Johnston Carmichael, has claimed that the improving economy of 2015 actually encompasses a counter-intuitive risk of liquidation for many businesses.

DID YOU KNOW?

Voluntary Administration has increased by 13.4% from 2013 to 2014

Henderson’s analysis of official UK statistics reveals that despite reports of falling company insolvency numbers, the number of Scottish companies facing the prospect of liquidation and voluntary administration has in fact increased by 13.4% from September 2013 to September 2014.

He states that contrary to common assumption, companies are the most financially vulnerable when the economy is doing well and directors relax, believing that the worst is over. Henderson lists some of the perils of economy recovery as the need to carry additional stock; the need to invest in new plant and equipment; the need to finance and hire new employees or contractors and to finance an expanded sales ledger.

If companies do not have adequate access to growth capital and don’t restructure their company to enable growth, they may face the undesirable prospect of liquidation. Henderson states that additionally, with a possible forecasted interest-rate rise later in 2015, more companies than ever are likely to face insolvency down the track.

If your company is facing liquidation, or you suspect the prospect of liquidation is not too far down the road, Australian Company Liquidations (ACL) can help. Our team of professional liquidation specialists can provide you with expert advice on your individual case. Our fully licensed and experienced team can also assist you with the actual process of liquidation.

For more information about our services or to simply get insolvency or liquidation advice, call 1800 981 070 or fill out our online enquiry form today.

TO FIND OUT HOW WE CAN HELP YOU
CALL US TODAY ON 1800 981 070

The Australian Taxation Office (ATO) has issued a warning to business owners across the nation by detailing its latest operation in targeting and eradicating phoenix businesses.

A Phoenix is where a business has been deliberately transferred to a related party for inadequate consideration and the old company is placed into liquidation so that the business owners are able to avoid paying creditors, employees and tax. The Phoenix of a business creates an unfair market advantage as the process allows them to undercut their competition by not paying business overheads and taxes.

The significant increase in fraudulent phoenix activity and high costs to the Australian economy (approximately $3.2 billion a year) has led to the establishment of the Inter-Agency Phoenix Forum — a joint operation by the ATO and various other government agencies. Within this forum, collective intelligence is combined to design and carry out operations that will decrease illegal phoenix activity across Australia.

The ATO Deputy Commissioner Michael Cranston explained that the operation involved a string of surprise access visits to multiple business and residential sites in Sydney. The visits were made with the assistance of the NSW Police Gangs Squad Strike Force Raptor, National Anti-Gangs Squad and Middle Eastern Organised Crime Squad.

Cranston stated that the information gathered from the companies will be used to provide more intelligence about potential phoenix operators and facilitators in Australia, and the methods that they use to try to cheat the national tax and superannuation systems.

The consequences for engaging in fraudulent phoenix activity are very serious. To avoid the possible confiscation of personal assets and lengthy jail sentences that may result from conducting in phoenix activity, contact Australian Company Liquidations (ACL) today. The liquidators at ACL are registered and licensed with the Australian Securities and Investments Commission and will handle your liquidation case in adherence to their strict protocol and
standards, ensuring that your company’s actions remain lawful. Call us today on 1800 981 070

Australian Company Liquidations (ACL) is a professional team of insolvency practitioners who have years of experience in providing liquidation advice and helping businesses that are facing financial difficulties.

Licensed professionals in the industry, our team members are qualified to provide expert liquidation advice, feedback and consultation regarding any corporate insolvency case. ACL are fully licensed and fully insured as required by ASIC; we are not unlicensed brokers and we will not pass your company liquidation on to someone else to complete.

RECEIVE OBLIGATION-FREE ADVICE
FROM LEADERS IN THE FIELD

ACL is an industry leader that has provided corporate insolvency advice and services for many years, and has successfully assisted many Australian company directors to bring their companies into liquidation

At ACL, our licensed professionals offer liquidation advice and services at the lowest price – guaranteed. We will happily beat the prices of any of our competitors, provided you present a written quote from another registered liquidator.

Contact our team on 1800 981 070 today to get a free quote and expert liquidation advice from our knowledgeable specialists. Our liquidation advice hotline operates 24 hours a day, seven days a week, so you can contact us at any time that best suits you.

Do you own or work for a family business?

Research shows that firms that are run by families often have ‘the family advantage’, meaning they frequently outperform their non-family peers in the corporate race. One study found that the annual revenue of family businesses on the S&P 500 grew at more than double the rate of their counterparts.

However, with more than 50 per cent of Australia’s workforce employed in family business, it is alarming that this sector is increasingly facing challenges that will cause many of them to fail over the next decade.

Australian Company Liquidations (ACL) has compiled a list of the three top reasons why your family business might be heading towards liquidation.

1. Business leaders do not effectively train their successors and lack succession planning.
If family business owners want to ensure their company will survive after they leave, it is of paramount importance that they begin training their successor as soon as possible. It is risky to delay succession planning and incidents such as death or illness can occur, which can be detrimental to the company.

2. Many businesses do not have formal governance structures in place.
Many families are reluctant to formalise the way their business is managed. But without formal governance, businesses are at risk of internal conflict and ownership issues in the future.

3. Ineffective branding of family name.
Many family businesses do not effectively leverage the trust that many customers have in firms that are run by families.

If you have decided that liquidation is the only and led professionally by a registered liquidator who is licensed by the Australian Securities and Investments Commission. At ACL, we offer a team of fully licensed liquidation practitioners who are experts at handling voluntary corporate liquidations.

WE ARE FULLY QUALIFIED AND
LICENSED LIQUIDATION PRACTITIONERS

We understand the financial strain that your struggling family business is feeling; therefore we offer the lowest prices for our high quality service. For free 24-
hour expert advice, contact an ACL expert today on 1800 981 070.

An ATO Garnishee Notice gives the Australian Tax Office the power to collect an outstanding tax debt from companies.

The most common type of ATO Garnishee Notices will be issued directly against your bank account.

But you need to be aware that the ATO can also issue a garnishee notice against your debtors (i.e. customers who have an outstanding account with your business).

Either way, when an ATO Garnishee Notice is issued you must act immediately!

If ignored an ATO Garnishee Notice may have a serious impact on your company’s cash flow which could lead to your company being unable to meet your payroll and other business expenses.

In March 2014, the newly appointed Commissioner of Taxation (Chris Jordan), signalled a change in the ATO’s approach with collecting large tax debts from companies. It will no longer wait until a corporate tax debt exceeds $340,000 before initiating debt recovery procedures (such as a garnishee notice or winding up proceedings). The ATO will now intervene earlier and will not allow debts to escalate out of control.

Don’t allow your company tax debt to escalate out of control! You will achieve the best outcome if you take action early, so call us now on our 24 hour toll free insolvency hotline.

For more information and free advice on ATO Garnishee Notices or a Company Liquidation call ACL today on 1800 981 070.

A Queensland couple forced to place their Cold Rock Ice Creamery franchise into business liquidation are the latest to join a growing group of disgruntled franchisees unhappy with the lack of support from their franchisors.

Aaron and Kylie Gibson who bought their franchise store in December 2010,blame their need for business liquidation on their franchisor, who they claim did not respond to the couple’s “countless” emails and phone calls regarding their concerns about the business’s declining financial position.

The final result? The couple had to file for business liquidation after failing to find a buyer for the business, despite dropping the sale price to just $9000.

WE CAN HELP YOU GET THE RIGHT AMOUNT
FOR YOUR BUSINESS

The Gibsons said they had also come close to losing their home and had invested a significant amount of their own money in an attempt to keep their insolvent business afloat.

If your franchise has also been forced to face business liquidation, Australian Company Liquidations (ACL) can make the process of winding up your company easier. We are a team of fully licensed and registered liquidators who are experts in the field and specialise exclusively in business liquidations.
Understanding the financial stress of business liquidations, we offer our services at the lowest price.

Contact us today on 1800 981 070 for more information on our services.