company liquidation

Once a company goes into Liquidation, one of the key issues for its directors and creditors alike is how will the creditors be paid.

When a company stops trading, it is up to the director to deal with it correctly. Otherwise, it will sit dormant and accumulate fees. There are several ways to close your company. In this article, we run through the options, so you can make a decision whether to deregister or enter liquidation.

As a company director, it can be overwhelming to deal with a struggling business. Here we explain the ins and outs, who is involved, and the different types of liquidation in Australia.

Personal Insolvency tends to lead to Bankruptcy or a Debt Agreement. If a company is found to be Insolvent, it is possible that it will lead to Liquidation,

Most people thinking about liquidating their company may think it’s a bad decision. However, it may be a positive step forward and the best thing in the long run. It may be hard to believe, there are some good reasons to liquidate your company.

One way creditors can recovery money from a company is with a Statutory Demand. This demand, made under the Corporations Act 2001 gives the company's director 21 from days from the day it's received to pay a specified sum of money.