Insolvency
Insolvency is a most unfortunate state for a company to
be in both in respect of the Corporations Law 2001 for directors and
generally for the viability of any company. The right advice will invariably
aid in identifying encroaching, problematic, issues early and preventing
liquidation or receivership. Ashfield Taxation
Services can help you in all aspects of Solvency issues and
any requirements in receivership or liquidation situations.
A receiver is appointed raise funding from within the company
to repay financiers. Liquidation occurs when there are insufficient funds to be
raised from within the company to cover liabilities and forces the disposal of
remaining assets to raise funds to settle creditors and ultimately shareholder
claims resulting in the company ceasing to exist. Further ramifications may
ensue if insufficient funds are raised on liquidation.
If there is a chance that a liquidation or receivership
becomes necessary, we can most certainly assist with a choice of specialist.
If you are having operational difficulties or finding it
difficult to manage finances you need to take action now.
If feel you need expert advice about
your situation please
Contact us today for an
appointment.
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