Effects of Members Voluntary Liquidation
Placing a company into liquidation has far-reaching effects on the company and on what it can and cannot do. Those effects will be set out in the company’s constitution and also in the Corporations Act.
Most importantly, upon the appointment of a liquidator, all of the powers of the directors cease. The liquidator effectively replaces the directors. In practice, the liquidator will consult with the directors and shareholders and seek their views on issues that arise. The corporate structure and corporate powers of the company continue until it is dissolved.
If you’d like to discuss Member’s Voluntary Liquidation with one of our advisors, why not call us for confidential, free advice .
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