If your business is heading down the path of voluntary liquidation, it helps to do your research so that you can appoint a licensed and registered liquidator with the skills and qualifications to take on your case.
Insolvency Services Australia (ISA) is a professional team of registered liquidators and insolvency specialists with a track record in helping Australian businesses through their financial distress
After you declare voluntary liquidation and you appoint a registered liquidator of your choosing, the liquidator will assume full control of your company’s finances and undertake a number of obligatory tasks.
Some of the tasks a liquidator may need to complete include, but are not limited to:
- Calling meetings with creditors;
- Selling the company’s assets and distributing funds to creditors;
- Searching for any assets that may be owned by the company;
- Opening and managing a bank account for the liquidated company;
- Determining and paying the costs and expenses of the liquidation;
- Distributing any surplus funds to the company’s creditors;
- Investigating the company’s books and records and reporting the findings to the company’s creditors;
Whilst the liquidation process may seem tedious and stressful, it is important to remember that it will ultimately benefit the business and bring peace of mind to the company’s directors.
If your business is experiencing financial difficulty and is looking to liquidate, don’t risk dealing with unlicensed and unregistered liquidators – contact Insolvency Services Australia on1800 003 883. We operate 24 hours a day, 7 days a week.