Know more About Winding up Applications

If a company is unable to pay its debts, then a court has the power to wind up the company. They appoint a liquidator who turns the company’s assets into cash. These chunks of cash further get distributed in accordance with the Corporations Act. Like employee’s entitlements, the creditor who obtains the appointment of the liquidator has to take priority in relation to their costs. It deals with the ending of all complex business affairs and helpful in terminating the company obligations before the process of liquidation.

Why You Need Winding up Applications?

  • When the company has ceased all the business activities.
  • When there is some kind of management deadlock.
  • If there is any corporate or financial restructuring of company groups.
  • When there is a minimization of tax liabilities and maximization in tax advantages for the company group.
  • When a company is acting outside the organization’s activities.

To get the best solution for the organization’s activities, Corporate Lawyers Perth is always ready to assist you in the best possible manner.

Our Winding Up Services

Members’ voluntary winding up

Under this, we help you in passing the resolution that a company has wound up. The directors of the company have to do proper filing for the declaration of solvency.

Creditors’ voluntary winding up

In case, if the company is not able to meet its liabilities, then our lawyers will help you in convening the meeting with the creditors and consider the proposal for winding up application.

Depositing the Company Assets

Our legal attorneys will help you on the concepts of execution proceedings, floating charges and get the rights of the secured creditors.

To have a systematic approach for winding up applications, Corporate Lawyers Perth will offer you right path for the success of your business deals.

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