Consent to Act as Official Liquidator

An Official Liquidation is an appointment made by a Court. In most cases an Official Liquidation is sought by a creditor of the company. The process will usually have been as follows: A creditor will have served a Statutory Demand on the company to pay a debt pursuant...

Notice of Winding Up Application

What does it mean? What should you do? When a creditor has decided to pursue this course of action they will almost always have instructed a solicitor who will be running the process. The solicitor will: Serve the Winding Up Application on the Registered Office of...

Wind-Up Notice

What does it mean? What should you do? Under the Corporations Act a creditor of a company whose debt exceeds $2,000 may serve upon the company a notice under Section 459E requiring the company to pay, or make satisfactory arrangements for payment, of the debt within...

Statutory Demands – Section 459 Notice

What does it mean? What should you do? Under the Corporations Act 2001, creditors have to power to issue a demand over any provable debt greater than $2,000. This demand is called a Creditors Statutory Demand and is issued using form 509H. A company who is served with...

Court Liquidation – an overview

An Official Liquidation , sometimes called a “Court Liquidation”, is an appointment made by a Court. Commencement of winding up by the court may be started by creditors, directors, shareholders or ASIC. Most Official Liquidations are commenced by a creditor of a...