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How can we help you?
Official Liquidations
The firm is able to accept appointments as Official Liquidators or as Provisional Liquidators from either the Supreme Court of Victoria or the Federal Court of Australia.
Creditors' Voluntary Liquidations
Directors and shareholders often wish to initiate liquidations themselves. This will generally occur when directors and shareholders feel that they are no longer able to carry on a business which appears to be insolvent. Our policy is to examine each of these situations on their merits and recommend a liquidation only if appropriate.
In certain circumstances, it is now possible to place a company into Creditors' Voluntary Liquidation almost immediately. In these cases, the liquidation of the company may be able to avoid the personal liability which may be attached to Director Penalty Notices issued by the Australian Taxation Office.
Voluntary Administrations / Deeds Of Company Arrangement
The amendments to the Corporations Act 2001 in 1993 created the possibility of reconstructing companies in financial difficulties rather than immediately closing them down. This new form of administration is known as Voluntary Administration / Deed of Company Arrangement, and can only be administered by Registered Liquidators.
Broadly, the Deed of Company Arrangement allows a company to come to a cost effective formal arrangement with its creditors to try to solve its financial problems without the need to liquidate the company.
Our firm is well equipped to handle this type of administration.
Click HERE for more information on Voluntary Administrations
Other Types Of Appointments
In many cases it is in the best interests of all concerned that a lender appoint either a Receiver and Manager or a Controller. In some cases it may be appropriate for creditors to have the opportunity to consider a Scheme of Arrangement which might allow the company to keep trading.
Our team provides advice to businesses having difficulty with cashflow and profitability. We are also able to provide a rapid assessment and reporting service to lenders to assist them in decision making.
Members' Voluntary Liquidations
Often companies outlive their purpose or simply cease trading. It is now more necessary than ever to wind up these companies, pay any creditors and distribute surplus assets to the members so that their tax liability is minimised.
Deregistration (Strike-Off)
Where companies have no assets or liabilities, a liquidation can be an expensive proposition for both shareholders and directors. We have considerable experience in deregistering companies without resorting to liquidation. This facility is provided for within the provisions of Corporations Act 2001 and is available only where companies have no assets or liabilities.
FOR FURTHER INFORMATION ABOUT CORPORATE INSOLVENCY, PLEASE DO NOT HESITATE TO CONTACT THE PARTNERS DIRECTLY.
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