Often a company’s financial accounts will show “directors loans”. That is an amount owing by a director to the company. So it is an asset of the company that is recoverable by a company or the company’s liquidator.
The history will be that:
If the company enters any form of insolvency administration, such as liquidation or voluntary administration, then a liquidator will, quite reasonably, require the amount to be repaid to the company.
Options available include the following:
If the above advice has not answered your questions you might want to review the following pages and downloadable Information Sheets:
Or please call us for free advice.
“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