In this section, Australian Company Liquidations provides the latest news and tips in business insolvency and liquidations.

Company Liquidation: The Process of Closing Down Your Company

Company Liquidation: The Process of Closing Down Your Company Deciding to close a business is a difficult decision but often can save people from insolvency. One of the main concerns that an individual has when closing their business is what will happen to the money and how to pay their debts effectively. Not every business is insolvent, but every business has to endure company liquidation once it closes its doors. Generally, people can appoint a liquidator to help distribute the

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What does it mean when a company goes into liquidation?

What does it mean when a company goes into liquidation? When a company is facing insolvency or extreme financial difficulty, company liquidation is the process of closing the business, selling the assets and paying as much debt to creditors as possible. In Australia, there are two paths to liquidation for insolvent companies. Creditor's voluntary liquidation occurs when creditors vote for liquidation after a voluntary administration or terminated deed of company agreement. Court liquidation usually happens after a creditor has applies

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What Happens to Proceeds When a Company Enters Liquidation?

What Happens to Proceeds When a Company Enters Liquidation? For creditors and the liquidator, one of the key concerns is what will happen to the money and the order of priority the debt is paid. If you are a creditor of a company entering into liquidation, you will be monitoring the process to ensure that you are receiving all payments owed. If you are a director, you will be aware that the liquidator can assist you distribute the proceeds. Liquidation:

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