The process of a creditors’ voluntary liquidation is quite simple from the perspective of the directors and shareholders. There is a lot of work the liquidator has to do, but the directors and shareholders don’t have to worry about most of that. We’ve explained below the full process of a Creditors Voluntary Liquidation and highlighted where the director and shareholders are involved.
Appointing a Liquidator (Day 1)
The days following appointment (Days 2 to 7)
The Creditors Meeting (Days 7 to 14)
The Liquidator’s tasks (Around 1 to 3 months)
Finalising the liquidation (A further 3 to 4 months)
Yes, there can be variations from the above but the above is accurate for around 80% of liquidations done by Dissolve. ASIC statistics tell us that other liquidators can take years to complete the above process.
“I’ve now referred two liquidations to Dissolve and in both cases my clients were amazed at the ease of the appointment process and how quickly the liquidation was finished.”…
Partner of a Sydney Accounting Firm
“Cliff and his staff provided a fast, efficient and friendly service. The process was simplified and all steps were communicated well. The price was exactly as advertised with.”…
Director of a Property Development Company
“…after I gave Dissolve the go-ahead I received the No Asset Liquidation Package within two hours and I had the company in liquidation the next morning.”…
Director of a Fashion Retailer