The Court can appoint an Official Liquidator to a company for a variety of reasons. The most common reason, however, is when a Company fails to comply with the demands of an unsecured creditor.
An Official Liquidator shall:
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collect, protect and realise the company’s assets;
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investigate and report to creditors about the company’s affairs, including any unfair preferences which may be recoverable, any uncommercial transactions which may be set aside, and any possible claims against the company’s officers;
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enquire into the failure of the company and possible offences by people involved with the company, and report to ASIC;
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after payment of the costs of the liquidation, and subject to the rights of any secured creditor, distribute the proceeds of realisation; and
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apply for deregistration of the company on completion of the liquidation.
For more information on Liquidation please Click Here or on the links below to view the profiles of our Registered Company Liquidators and Official Liquidators:
