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MVL is a clear-cut means of finalising a company’s affairs and distributing assets to its creditors and members. MVL is only possible when a Company is solvent, meaning they have the resources to pay off all their debts to the creditors within 12 months from the Commencement of the Liquidation.
This type of Liquidation is often utilized for the following reasons:
Determine whether Members Voluntary Liquidation is applicable for the situation of your Company.
Once the Company is placed into MVL by the Shareholders, the Liquidator will realise the Company’s assets if any.
The liquidator will assess and complete the distribution to creditors and shareholders where applicable.
Subject to obtaining the Tax Clearance from ATO, the Liquidator will apply to ASIC for de-registration
We are experienced, fully qualified accountant.
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 issue a
Director Penalty Notice.
A creditor can apply to the Court to obtain 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.
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.
The team was always available to answer my questions. they definitely go above and beyond. Trustworthy team and service
John B.
Quick and professional service provided by Leanne and her team. Much appreciated during a sressful period for us.
Louise V.
