Insolvency Advisory Accountants’ Business Liquidation Packages
Insolvency Advisory Accountants has a number of packages for businesses that need to be liquidated.
Our “NO ASSET LIQUIDATION PACKAGE” is our number one selling product for all businesses in need of voluntary liquidation.
We have identified the top 10 reasons for company and business liquidations:
- Company and business tax debts
- Cash flow problems
- High rents
- 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 you have these issues then it is best to call us immediately and let us take the stress for you. We will give you solutions and answers to your debt problems and help you start over immediately.
Business or Company Liquidation Explained – The Types are:
A Liquidator manages the process of ending a company’s existence and the liquefaction of its structure and assets. If outstanding debts exist there will be proportionate distributions in order of priority and precedence of the liquidated assets.
1. 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.
2. 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.
3. 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. Insolvency Advisory Accountants can help you with Creditors Voluntary Liquidation.
4. 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 Insolvency Advisory Accountants today if you wish to pursue a Voluntary Liquidation.
Insolvency Advisory Accountants and our Point of Difference
Insolvency Advisory Accountants is Australia’s Number 1 firm and the Largest International Firm of its kind.
The reason we are so successful is because we are fairly priced and pass on the savings we receive from Liquidators and Trustees to you.
Insolvency Advisory Accountants is Australia’s most reliable, inexpensive and efficient firm that deals with Business Liquidations, Company Liquidations, Bankruptcy and Personal Insolvency.