If you are wondering if you should place your company into liquidation, your first step is to determine whether or not the company is insolvent.
To be insolvent is to be unable to pay your debts as and when they fall due. In this instance, the company director/s need to consider taking the active step of appointing a liquidator on a voluntary basis. To not do so is to place oneself at risk of “insolvent trading”, meaning that the company has incurred debt during a time in which it was insolvent.
If there is a chance that your company is either insolvent or close to it, call us today on 1800 003 883. We can carry out an assessment of the company’s affairs and confirm whether or not company liquidation is necessary.
We are available 24 hours 7 days a week for free and confidential advice.