Business Liquidation

You can find out more about liquidation right here.

Company Liquidation Gold Coast has a number of packages for businesses that need to be liquidated in Gold Coast.

We have identified the top 10 reasons for company and business liquidations:

Company and business tax debts
Cash flow problems
High rent
PAYG overdue
Taxation payment plans
Debtors not paying on time – causing cash flow problems
Unable to meet payment plans
Director’s guarantees
Personal guarantees to suppliers
Director’s penalty notices

If your business in Gold Coast is facing these issues then it is best to call Company Liquidation Gold Coast immediately and allow us to help you to navigate the company liquidation process. We will give you the guidance you need to make it through this challenging time.

Liquidation isn’t something that you should be handling on your own; our team are ready to help you.

What are the different types of liquidation?

A liquidator manages the process of ending a company’s existence while overseeing the sale of the company’s assets. If outstanding debts exist there will be proportionate distributions in order of priority and precedence of the liquidated assets.

Official Liquidation

The application for liquidation is made to the court by creditors of the company. In order for official liquidation to commence, the creditor/s must verify to the court that the company is insolvent (unable to pay its debts as and when they fall due). The liquidation is initiated and an official Liquidator is appointed. The Liquidator will conduct thorough research into the financial affairs of the company in order to distribute these assets and ascertain whether or not illegal/improper activities have taken place.

Provisional Liquidation

If the court considers that the assets or financial resources of the company may be at risk during the interim time that lapses between filing of the application and the time of the court hearing, a provisional Liquidator may be appointed to administer and exercise control of the company in order to protect the best interests of the creditors and higher-end distributions. Provisional liquidation will often be executed to ensure that creditors are compensated as close to full satisfaction of arrears as possible when the official liquidation commences.

Creditors Voluntary Liquidation (CVL)

A CVL occurs when a business is no longer able to pay its debts as and when they fall due and the shareholders come to an agreement under a special resolution that the company is to be wound up. The company must be insolvent in order to perform a CVL. Once a company becomes insolvent it may be the only option to satisfy the debts in a feasible manner and without waiting for the liquidation to be appointed by the court, which would result in an official liquidation. Company Liquidation Gold Coast can help you with Creditors Voluntary Liquidation.

Members Voluntary Liquidation (MVL)

An MVL occurs when the company is solvent, and the directors/shareholders simply agree to cease trading of the company, wind up its affairs and liquidate the structure and assets to completely dismantle the company. Call Company Liquidation Gold Coast today if you wish to pursue a Voluntary Liquidation.

Company Liquidation Gold Coast in Gold Coast

Company Liquidation Gold Coast is dedicated to helping resident of Gold Coast to successfully handle the liquidation process.

Company Liquidation Gold Coast is part of a national network of insolvency practitioners. We are able to provide you with high quality financial services at a fair price.

We do not work for your creditors, we work for you. We help you to gain a strong understanding of your situation so you are fully aware of all your rights and responsibilities during the liquidation.

Our liquidation team can help you to comply with the laws surrounding business liquidation, allowing you to avoid actions that would invoke penalties.

Our liquidation consultants are ready to provide you with assistance; simply pick up the phone and get in touch with us today.