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How do you liquidate your company

How do you liquidate your company

Liquidating your company involves appointing a Liquidator to sell the company's assets and distribute the proceeds to creditors. Shareholders typically resolve to place the company in liquidation, either by unanimous agreement or through a special resolution at a shareholders' meeting. The Liquidator will then handle the liquidation process, with your assistance in providing records and information. Costs vary depending on the company's assets, but upfront fees are usually required if assets are limited. For more information or assistance with liquidation, contact our Brisbane or Gold Coast office....

QBCC Home Owner Warranty claims; when are they not released by bankruptcy?

QBCC Home Owner Warranty claims; when are they not released by bankruptcy?

Directors of building companies are liable for claims by the QBCC and liquidating the companies will not avoid personal liabilities of the directors. They can either voluntarily declare bankruptcy, or be made bankrupt by the QBCC, but this will not necessarily release them them from all QBCC claims....

Could there be no costs liquidations in the future?

Could there be no costs liquidations in the future?

Liquidations can be a costly affair for directors of companies that are already failing. Voluntarily placing a company without assets into liquidati...

Options for subcontractors after collapse of Probuild

Options for subcontractors after collapse of Probuild

Construction industry insolvencies are unfortunately very common and building company insolvencies usually do not result in any return for subcontractors....

Options for businesses affected by the 2022 floods

Options for businesses affected by the 2022 floods

Many businesses in South East Queensland and Northern New South Wales have just started getting back to normal trading after the Covid-19 pandemic. However, some business are again facing are facing major disruption as a result of flooding which occurred in late February and early March 2022. ...

Hospitality Business Can’t Pay Its Debts – What Are The Options?

Hospitality Business Can’t Pay Its Debts – What Are The Options?

It is no surprise that hospitality businesses have been significantly impacted by the COVID-19 pandemic and the resultant government policies. ...

ATO focusing on recovery of unpaid super and large tax debts

ATO focusing on recovery of unpaid super and large tax debts

Collectable tax debt has significantly increase to nearly $40 billion. The ATO is starting to target recovery. ...

Why get advice from an insolvency practitioner

Why get advice from an insolvency practitioner

Insolvency Practitioners can provide services beyond formal appointments. They can provide invaluable advice to directors. ...

ATO Director Penalty Notices; A simple summary of how they apply

ATO Director Penalty Notices; A simple summary of how they apply

The ATO can make company directors personally liable for unpaid GST, PAYG Tax and superannuation. The ATO does this by issuing directors with Director Penalty Notices....

Case Study; Director jailed after following dodgy pre-insolvency advice

Case Study; Director jailed after following dodgy pre-insolvency advice

A former director of Cap Coast Telecoms, Richard Ludwig has recently been jailed for five years with a non-parole period of 20 months. Mr Ludwig had previously pleaded guilty to dealing with proceeds of crime and breaching his duties as a director. ...

Case Study: How we settled a lease debt for $10,000

Case Study: How we settled a lease debt for $10,000

If you or your company owes a lease, or other type of debt you cannot pay and you would like to consider all options available, please contact us for a free no obligation consultation....

Total Collectable Tax Debt Increases to $38.5 Billion

Total Collectable Tax Debt Increases to $38.5 Billion

The ATO’s recent report on its activities for the 2021 financial year has shown that total tax debt, which the ATO considers is collectable, has increased to $38.5 billion. This compares to $26.5 billion for the 2019 financial year. ...

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