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  • Liquidators Role Brisbane Services

    EXPERIENCING PRESSURE FROM CREDITORS?

    GET ADVICE NOW
  • Liquidators Role Brisbane Services

    EXPERIENCING PRESSURE FROM CREDITORS?

Liquidators Role Brisbane Services

Insolvency occurs when a business can no longer pay its debts. When this happens, a liquidator is appointed and has a duty to all the company’s creditors.

liquidators role brisbane

Explaining the Liquidators Role – Brisbane

The liquidator’s main role is to protect, gather and realise the company’s assets.

The liquidator has to abide by the following duties:

  • To investigate the affairs of the company from its foundation onwards;
  • To act fairly;
  • To avoid placing him/herself in a position where there is a conflict of interest within their duties; and
  • To act with skill and diligence

Furthermore, the liquidator will investigate the following in the liquidation process:

  • Financial Affairs
  • Occurrence of Improper or Illegal Transactions
  • Investigate Books and Records
  • What Circumstance did the company become insolvent

Please note if books and records are not supplied, the company is deemed insolvent for the entire time.

In this process, the liquidator must collect all assets, if they have no allegiance over them, sell them. With regard to liabilities, the liquidator must discharge and release them.

The liquidator must abide by statutory requirements & they are:

  • The s478 which requires a Court Appointed Liquidator to collect the company’s property and discharge the company’s liabilities
  • The s501 which requires a liquidator in Voluntary Liquidation to be applied in satisfaction of its liabilities.

The Liquidators has a responsibility to bring the company’s affairs to an end. This process is accountable to:

  • The Creditors;
  • The Court; and
  • The Shareholders

Please note that creditors do include employees. Brisbane Debt Solutions are here to help you with Liquidation and have a wide selection of Liquidators that are perfect for you. Contact us today on 1300 88 70 93 for a free consultation.

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Personal Insolvency

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Corporate Insolvency

  • Insolvency
  • Liquidator
  • Company Liquidation Advice
  • Dissolve Your Company
  • Receivership
  • Business Restructuring
  • Business Liquidation

Liquidation

  • Company Liquidation Process
  • Company Liquidation Packages
  • Liquidators Role
  • Insolvent Trading
  • Shadow Directors
  • Preferential Payments
  • Director Penalty Notice

Administration

  • Getting Started With Administration
  • Why Use a Voluntary Administrator
  • Administrator
  • What Is Voluntary Administration

Bankruptcy

  • Section 73 Proposal
  • Bankruptcy and Creditors
  • Role of a Trustee in Bankruptcy
  • How Does Bankruptcy Effect My Life
  • How Are People Made Bankrupt
  • Bankruptcy When Does It End?
  • Bankruptcy How Do I Get Started?
  • What is Bankruptcy

Personal

  • Bankruptcy
  • Liquidation
  • Trustee
  • Part IX Debt Agreement
  • Types Of Liquidation

Corporate

  • Insolvency
  • Liquidator
  • Company Liquidation Advice
  • Dissolve Your Company
  • Receivership
  • Business Restructuring
  • Business Liquidation

Liquidation

  • Company Liquidation Process
  • Company Liquidation Packages
  • Liquidators Role
  • Insolvent Trading
  • Shadow Directors
  • Preferential Payments
  • Director Penalty Notice

Administration

  • Getting Started With Administration
  • Why Use a Voluntary Administrator
  • Administrator
  • What Is Voluntary Administration
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