A strategic and transparent process initiated by company directors to efficiently wind up the affairs of a financially distressed company, ensuring a fair distribution of assets among creditors.
A strategic and transparent process initiated by company directors to efficiently wind up the affairs of a financially distressed company, ensuring a fair distribution of assets among creditors.
Our proven solutions are meticulously crafted to guide businesses out of the depths of debt, providing a personalised roadmap to financial freedom.
Our team is made up of individuals who have held directorial position.
AVA excels in conducting thorough financial assessments.
AVA places a strong emphasis on transparent communication and stakeholder empowerment.
Creditors’ voluntary liquidation is an option when a business lacks a viable model. Appointing a liquidator minimises directors’ personal liability for insolvent trading and creditor-defeating dispositions. It ensures equitable treatment of creditors, alleviates stress for directors, and allows employees to claim unpaid entitlements through the Fair Entitlements Guarantee (FEG) scheme. The liquidator’s involvement mitigates risks associated with ATO debts and Director Penalty Notices.
Our restructure process is your pathway to a more resilient and prosperous future. Comprising of six strategic steps, we will collaborate closely with you to navigate the complexities of reorganisation.
Consultation
In the initial phase, we engage in a comprehensive consultation to understand your business intricacies and challenges.
Detailed Fact Finding
We conduct a thorough examination of your financials, gathering detailed facts to create our strategic approach.
3rd Party Engagements
Collaborating with external experts, including lawyers and valuators, ensures a well-informed strategy.
Restructuring Completion
The restructuring phase involves implementing tailored strategies to address financial issues and enhance the overall health of your business.
Consultation
In the initial phase, we engage in a comprehensive consultation to understand your business intricacies and challenges.
Detailed fact finding
We conduct a thorough examination of your financials, gathering detailed facts to create our strategic approach.
3rd party engagements
Collaborating with external experts, including lawyers and valuators, ensures a well-informed strategy.
Restructuring completion
The restructuring phase involves implementing tailored strategies to address financial issues and enhance the overall health of your business.
Liquidation appointment
When necessary, we guide you through the appointment of a liquidator, ensuring a smooth transition and adherence to legal procedures.
Post-CVL support
Our services extend to providing continuous support, helping you navigate challenges and opportunities for business recovery.
Liquidation Appointment
When necessary, we guide you through the appointment of a liquidator, ensuring a smooth transition and adherence to legal procedures.
Ongoing Support
Our services extend to providing continuous support, helping you navigate challenges and opportunities for business recovery.
Addressing the correct issues at the appropriate moment can determine whether a business thrives or fails. Our team is skilled in recognising the best course of action for each specific situation, assisting businesses across various industries and models in navigating challenging times and establishing feasible paths for future success.
Sometimes the only remaining option is to break a company down and re-distribute its assets. Not as intimidating as it sounds, it can be a relatively pain-free method of repaying creditors. When a business is in severe financial difficulty and it seems as though there is no chance of maintaining solvency (where the company’s assets exceed its liabilities), sometimes the only remaining option is to break the company down and re-distribute its assets. This process is known as liquidation.
Under a liquidation, the company ceases trade and operations, is deregistered and its assets are sold off to repay its creditors. Often, a liquidation is entered into involuntarily – the business owner holds off until the creditor takes them to court and the magistrate orders the liquidation – but a liquidation can be voluntary. Directors might apply to save themselves the time and expense that goes with a court case.
HOW DOES LIQUIDATION WORK? There are actually three different types of liquidation and the process is different for each type.
1. Members’ voluntary liquidation – This is for companies who wish to cease trading and do not want to sell the company. It is also known as ‘winding up’ a business and is not suitable for companies that are facing insolvency as the company must be able to pay its debts in entirety within 12 months of winding up the company. Once the majority of a company’s members have signed a solvency declaration, members are given a 21-day notice period. Following this notice period, a majority vote is taken to continue and the liquidation process can begin. This type of liquidation is suited to companies facing an uncertain future and wish to avoid financial trouble.
2. Creditors’ voluntary liquidation – This type of liquidation is used when members of a company decide that a company is, or will become, insolvent. It involves a similar process to members’ voluntary liquidation, where a special resolution of the members of the company is made and the 21 days’ notice period begins. Members will then vote and a majority agreement will see the appointment of a registered liquidator. This method of liquidation is for companies who are facing insolvency and wish to disband the company and its assets.
3. Court-appointed liquidation – This form of liquidation is for companies and assets that are deemed at risk from third parties or directors of a company it can be initiated by a creditor who is seeking payment. Although it sounds scary, it is actually a safe way to secure the company from further loss and financial damage whilst the situation is assessed. If the court decides that the company should be liquidated, the court will appoint a liquidator.
Sometimes the only remaining option is to break a company down and re-distribute its assets. Not as intimidating as it sounds, it can be a relatively pain-free method of repaying creditors. When a business is in severe financial difficulty and it seems as though there is no chance of maintaining solvency (where the company’s assets exceed its liabilities), sometimes the only remaining option is to break the company down and re-distribute its assets. This process is known as liquidation.
Under a liquidation, the company ceases trade and operations, is deregistered and its assets are sold off to repay its creditors. Often, a liquidation is entered into involuntarily – the business owner holds off until the creditor takes them to court and the magistrate orders the liquidation – but a liquidation can be voluntary. Directors might apply to save themselves the time and expense that goes with a court case.
HOW DOES LIQUIDATION WORK? There are actually three different types of liquidation and the process is different for each type.
1. Members’ voluntary liquidation – This is for companies who wish to cease trading and do not want to sell the company. It is also known as ‘winding up’ a business and is not suitable for companies that are facing insolvency as the company must be able to pay its debts in entirety within 12 months of winding up the company.
Once the majority of a company’s members have signed a solvency declaration, members are given a 21-day notice period. Following this notice period, a majority vote is taken to continue and the liquidation process can begin. This type of liquidation is suited to companies facing an uncertain future and wish to avoid financial trouble.
2. Creditors’ voluntary liquidation – This type of liquidation is used when members of a company decide that a company is, or will become, insolvent. It involves a similar process to members’ voluntary liquidation, where a special resolution of the members of the company is made and the 21 days’ notice period begins. Members will then vote and a majority agreement will see the appointment of a registered liquidator. This method of liquidation is for companies who are facing insolvency and wish to disband the company and its assets.
3. Court-appointed liquidation – This form of liquidation is for companies and assets that are deemed at risk from third parties or directors of a company it can be initiated by a creditor who is seeking payment. Although it sounds scary, it is actually a safe way to secure the company from further loss and financial damage whilst the situation is assessed. If the court decides that the company should be liquidated, the court will appoint a liquidator.
Every one of our clients are different, there are no two companies identical in character, and so our process is different for everyone. However, we give each new matter an initial timeframe of four working weeks. This can be extended or shortened depending on the client and their requirements.
Let’s start mapping your path to financial freedom.
Don’t wait – the earlier we start, the more debt relief options will be available. Contact us today on 1300 181 220 for an obligation-free, cost-free consultation. Share details of your situation and concerns in confidence.
With expertise on your side helping analyse business debt relief options, ATO debt advice, and negotiate agreements, you can look forward again. Clarity, relief, and a brighter future for you and your business are only a few steps away – fill out the form below for your free consultation.
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