If your company is insolvent and having difficulties honouring its tax debts, it is at risk of receiving a garnishee notice from the Australian Taxation Office (ATO). Such an action can have a serious impact on your household budget or…

The purpose of a liquidation is to ensure that a company is wound up fairly and equitably when it is unable to payits debts as they fall due.If, at any time, a company is unable to pay all of its…

With over 25,000 personal bankruptcies declared in Australia between 2013 and 2014, it is increasingly important for individuals to be aware of their financial situation and work to prevent bankruptcy from occurring. Declaring bankruptcy is a serious step that may…

Generally speaking, an insolvent company that has been placed into liquidation would not be in a position to continue trading. It would simply have its assets realised and the available funds would be distributed as stipulated by the Corporations Act….

The time it takes to complete a company liquidation will vary depending on how complicated the company’s affairs are. There is no set time within which the liquidation needs to be completed and as such, it can range from 12-18…