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A Guide For Winding Up Your Company

Posted by Revive Financial on May 1, 2015 12:00:00 AM

So you’ve read up on how to choose the right Liquidator, spoken to one, and determined that liquidation is the best option for your company.

What happens next?

That’s where we can help. We’ve developed a simple system for winding up a company that lets you place your company into liquidation quickly, and with a minimum of fuss.

We understand it isn’t easy winding up a company and declaring your business insolvent. The pressure can cause anxiety, stress attacks, sleepless nights, depression, and even family breakdown. After all, you didn’t plan for your company to fail. But sticking your head in the sand and doing nothing will just make things worse.

With our system you can put your company into liquidation within 24 hours to start the closure process for this difficult situation and move on with your life.

Here’s how it works.

  1. Once we’ve spoken to you about your options and you’ve decided liquidation is the best option, we’ll get your company name and ACN.
  2. Next, we’ll email you our appointment instructions, and let you know the documents we need to place your company into liquidation. We’ll also give you an estimate of what the administration will cost, and any upfront fee. (Here’s information on how Liquidators costs work, as well as the potential costs of different-sized liquidations).
  3. From there you’ll need to sign the documents as necessary, and send them back along with:
    • names, addresses and amounts owed for all creditors (including any employees who are owed superannuation)
    • bank statements and cheque books for the past 12 months of trade or account closure
    • backup of the company’s accounting software (MYOB, Xero, etc.)
    • photocopy of the Director’s drivers licence
    • any financials prepared by your accountant for the past 3 years (if available)
    • copy of the Company’s ATO running account balance for the past six months.

We may need more information once we start, but we will let you know about it as we go.

The earlier you get the ball rolling, the better off you’ll be. So contact us now for free and confidential advice.

For more information on Company Liquidation, check out our Company Liquidation page here. 

Topics: Company Liquidation

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