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If you find that your company is no longer viable or you are stressed by creditors chasing you for payments. Then Creditor's Voluntary Liquidation might be your best option.
This is an option that your Company can utilise to reach an agreement and pay off all its Creditors for a lesser amount and over a longer time frame in order to save your Company.
Facing endless pressure from creditors, however, you strongly believe your business is worth saving, Voluntary Administration might be able to assist you to achieve that goal.
Creditors with a registered security or a Court Order may appoint a Receiver to realise the Company’s assets to pay off their debt when the repayments are not made in accordance with the Loan Agreement.
If your Company is solvent and able to pay off its debts within 12 months, the members (shareholders) can choose Members Voluntary Liquidation to finalise the Company’s affairs.
To pursue an outstanding debt, a Creditor may instruct a solicitor to utilise legal proceedings which ultimately cause the Company to be placed into Official Liquidation if the debt is not paid.
We are experienced, fully qualified and registered Insolvency Practitioners
Our step by step approach reduces your stress to a minimum, making the process as smooth as possible
We can tailor a simple, practical solution to sort out the mess to best achieve your desired result.
A Director may be personally liable for outstanding Employees’ PAYG and Superannuation when the ATO issues a Director Penalty Notice.
A Creditor can apply to the Court to obtain an Order to Wind up the Company if a Statutory Demand has not been responded to within 21 days.
Action is required at once if your Company is issued with this Notice, otherwise, this may lead to serious consequences for both the Company and Director.
I am involved in the building industry as a subcontractor and when the builder failed to pay me it destroyed my cashflow and my business. Crossroads provided me with the alternatives and the likely consequences of each action and I was able to move forward with my business.
Warren Z.
When my company’s property development project failed to obtain a DA approval, with $3 million owning, CrossRoads pointed out that Liquidation was the most practical way to go. Dealing with them is easy and efficient and I recommend them highly.
James C.
I had engaged CrossRoads to liquidate my kitchenware shop in Westfield and the staff was always available to answer my questions. They went above and beyond to make the whole process easier for me. Great assistance for a reasonable price.
Sharon C.
Our engineering company was placed into liquidation by mistake. Marc and the team spent time listening to us to better understand our situation, they assisted us in negotiating with the Liquidator and terminating the liquidation. We finally got our company back and started operating again. I would definitely recommend their services.
Michael T.
My restaurant was losing over $30,000 per month. I was stressing out with all the unpaid bills and my suppliers were chasing me for payment. The team at CrossRoads advised me of my options and helped me to place the company into Liquidation on the same day. I am so thankful for their services and I can finally breathe again.
Ellen W.