VOLUNTARY LIQUIDATION SERVICES

TPH Insolvency provides liquidation services to companies that need to finalise their activities through liquidation. The reasons for a Voluntary Liquidation are:

  • Company won’t  be able to pay all of its debts from future activities;
  • Company’s usefulness has been achieved and the shareholders would like to recover their investments in the company; or
  • In order to resolve shareholders disputes.

Voluntary Liquidations are either known as a Creditors Voluntary Liquidation or a Members Voluntary Liquidation.

For more information and a free initial consultation, call 1300 756 425 or email enquiry@tphinsolvency.com.au

INSOLVENT LIQUIDATIONS CREDITOR’S VOLUNTARY LIQUIDATION

Creditors Voluntary Liquidations (CVL’s) are required at different times. TPH adopts a ‘strategic’ approach when suggesting how and when a CVL should be commenced.
At TPH, we believe every liquidation should be undertaken with a desired outcome, for example:

  • Commenced as part of a logical and necessary restructure; or
  • To protect the assets and minimise the risk to creditors.

TPH conducts many Creditors’ Voluntary Liquidations each year. Our efficient systems and processes fast track appointments whilst our fee rates are extremely competitive.

Our process:

  • Consult with  Directors and key management prior to appointment;
  • Provide details of how the process works and what is expected of everyone;
  • Advise what the likely outcome would be for employees, shareholders; creditors, suppliers, customers, directors and lenders; and
  • Provide clear insights into choices available and how management can work with the liquidator.

TPH is focused on outcomes that take into account all the legal and commercial realities and have a number of tried and tested approaches that get good results.  TPH will share that experience and knowledge with the directors and management team to ensure results.

SOLVENT LIQUIDATIONS MEMBER’S VOLUNTARY LIQUIDATION

TPH provides a comprehensive Members’ Voluntary Liquidation service. Our efficient systems and processes fast track appointments and maximises the returns to shareholders via timely and compliant programs.
In the lead up to an appointment our process is to:

  • Conduct free personalised consultations with the directors/shareholders to assist them in understanding the process and likely outcomes;
  • Work with the directors on the strategic finalisation of the company’s affairs;
  • Arrange expert tax advice for this very specialised area of the taxation law;
  • Plan the orderly close down and realisation of any assets of the Company; and
  • Arrange all necessary documentation and meeting material for the formal shareholders meeting.

The timing and rationale behind a Members Voluntary Liquidation should be considered very carefully. TPH assists interested parties in understanding all of the required elements to ensure the best outcome is achieved.
TPH understands how stressful these situations can be. That’s why we commit to providing costs disclosure agreements with projected fees and timing to completion. The proposal will also include how TPH plans to conduct the liquidation and the manner in which various matters will be handled.

CASE STUDY: RECENT CREDITORS VOLUNTARY LIQUIDATION

In a recent example, TPH assisted a Not-For-Profit child care facilitator who was struggling with its insolvent position. Changes to government funding rendered its ongoing operations uncommercial and, after exhaustive searches to find a suitable partner, the company decided to close.
Unable to meet employee entitlements, the Board formed the view it was insolvent. Naturally, the directors were extremely conscious of their own potential personal liability if they continued trading in a potentially insolvent state.
TPH was appointed the company’s liquidator and immediately ensured the liabilities were not greater than what might otherwise have been the case. In the best possible result, the directors avoided any personal liability for insolvent trading.
This case demonstrates the benefit of liquidating a company in a sensible and timely fashion.