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Company Liquidation Brisbane

If your company is struggling to stay afloat, we can help you liquidate so you can step away from the mess

Understanding Company Liquidation

If your company is unable to be saved by Voluntary Administration, then the next step is Company Liquidation. Liquidation is the process of winding-up your company to bring its affairs to a definitive end. Legislated under the Corporations Act, Liquidation involves the appointment of a registered Liquidator who will sell off company assets  to pay outstanding debts, and if possible, shareholders. Liquidation is commonly chosen by company directors to protect them from insolvent trading and avoid receiving a Director Penalty Notice from the ATO.

Company Liquidation should be seen as a last resort if you have exhausted all other options. On the plus side, Liquidation gives all directors and business owners the opportunity to take a step back and breathe. Instead of wondering how you’re going to repay your debts, Revive Financial does the work for you so you can find relief and start fresh.

Types of Company Liquidation

 The state of your company affairs will determine the type of liquidation.

Creditors Voluntary Liquidation

Creditors Voluntary Liquidation (CVL) is the most common way to wind up your business without involving the court. It’s relatively quick, straight forward and gives the most positive outcome for all parties involved. It is initiated by the shareholders of your company when the director deems your company is insolvent.

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Members Voluntary Liquidation

The Members Voluntary Liquidation (MVL) process is initiated by your company’s directors and shareholders to wind up your company if it is still solvent because it does not have a viable future. The aim of MVL is to return capital to your shareholders and finalise your company’s affairs.

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Court Liquidation

If a creditor of your company is owed money, they can take legal action to have your company wound up by way of a Court Liquidation. Court Liquidation commonly occurs when your company has not paid an amount demanded under a winding-up notice.

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Why Revive Financial Cares About Your Business

Unfortunately, no matter how hard you try to keep your business afloat, a number of factors beyond your control can impact trading and leave you with debts you cannot pay. Revive Financial’s Brisbane team can guide you through the Liquidation process. We understand it can be an emotional and stressful experience for all parties involved, especially when your livelihood and often hard years of work are coming to an end. We take the time to understand your individual situation with sensitivity and compassion.

We Help Thousands of Businesses Through the Company Liquidation Process

Revive Financial ensure the process is managed quickly, efficiently and affordably. Our Brisbane team will enable you to walk away from the mess of company debt and move into a better financial position. Our expert team consists of Chartered Accountants, Registered Liquidators, Bankruptcy Trustees, Turnaround Specialists and Financial Advisors. With over 43 years of combined experience, our team has been assisting a number of other Brisbane-based businesses with Company Liquidation for years.

Is Company Liquidation the Right Solution for You?

To find out, get in touch with our Brisbane team today for a free 30-minute consultation on 1800 861 247.

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