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Services
Corporate Insolvency
Registered Liquidator
Insolvency Practitioner
Insolvency Accountant
Deed of Company Arrangements
Creditors Voluntary Liquidation
Court Liquidation
Voluntary Administration
Safe Harbour
Simplified Liquidation
Small Business Restructuring
Receivership
Members Voluntary Liquidation
Professional Services
Registered Liquidators
Chartered Accountants
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Location
Wamberal NSW
Amenities
Ways to Pay
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Licences
Association of Independent Insolvency Practitioners
Australian Restructuring & Turnaround Association
Registered Liquidator
Chartered Accountant
Justice of the Peace (JP)
Frequently Asked Questions
What is Creditors Voluntary Liquidation?
A CVL gives insolvent companies the opportunity to wind up without needing a Court intervention. Also, in the case of a Voluntary Administration process, creditors can pass a resolution to place a company into Voluntary Liquidation if creditors aren’t willing to accept a proposal for an arrangement known as a Deed of Company Arrangement.
What is the Creditors Voluntary Liquidation process?
The Liquidator will: 1. Sell any available assets 2. Investigate Company affairs 3. Report the findings of the investigation to to ASIC 4. Distribute any monies remaining after the costs of the Liquidation to creditors. Secured creditors and employees are commonly first priority, if there are sufficient funds for a dividend. Then the ‘unsecured’ remaining creditors share the balance.
Australian Corporate Rehabilitation & Insolvency Solutions