The term “liquidation” refers to the legal dissolution of a company that is insolvent, which means that it does not have enough in the way of assets to pay all of its creditors in full. You would only need a…

The Corporations Act imposes a clear duty of care on directors not to trade if your company is insolvent. If your company is insolvent or at risk of becoming insolvent and you continue to trade-on, the consequences can be disastrous…

If you have established that your company is insolvent, you should take immediate steps to ensure that it does not continue to trade whilst it is insolvent. Allowing a company to trade whilst it is insolvent can have serious consequences…

What are the obligations under the law? It is firstly important to understand what the law expects of company directors with respect to keeping proper books and records. The Corporations Act also clearly sets out the obligations of a company…

A company liquidation involves appointing a liquidator to wind up a company’s affairs. The first step in a liquidation is to ascertain and then realise (sell) any company assets. Any funds that become available from the sale of the assets…