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Commercial Litigation Melbourne

The laws and regulations governing liquidation can be complicated and difficult to understand. Look for a law firm that is well-versed in the Corporations Act of 2001 and its ramifications for the company you run. A firm with experience in litigation can also be beneficial, as this area frequently intersects with liquidation. You will need to engage closely with your law firm during the liquidation process to ensure that everything is handled correctly. Look for a firm that communicates effectively, as well as one that is ready to answer your questions and provide direction throughout.

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Commercial Litigation Melbourne

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  1. (03) Our law firm Property Law Wills & Estates Commercial Law Litigation About us More 9939 3556 Pera Lawyers COMPANY LIQUIDATION AND WINDING UP Winding up or liquidating a company A corporation goes through liquidation when its operations are terminated and its assets are liquidated to pay off debts. Liquidation is a legal process that can be started by the company's directors, shareholders, or creditors and is governed by the Corporations Act 2001. The liquidator plays a crucial role in the liquidation process, investigating the company's affairs and distributing the proceeds of the liquidation to creditors and shareholders. Liquidation has signi?cant consequences for the company's directors, shareholders, and creditors, and should be carefully considered before it is initiated. Types of liquidation Liquidation of a company can be either voluntary or mandated by the court. Voluntary liquidation is initiated by the company's directors and requires the approval of the company's shareholders. There are two types of voluntary liquidation: members' voluntary liquidation and creditors' voluntary liquidation. Members' Voluntary Liquidation  To qualify for members' voluntary liquidation, the company must be solvent and have unanimous consent from both the board of directors and the shareholders. In a members' voluntary liquidation, the company's assets are liquidated and the proceeds are divided amongst the company's creditors and its owners. Creditors' Voluntary Liquidation When a corporation is unable to meet its current debt obligations, it may seek protection under creditors' voluntary liquidation. In a creditors' voluntary liquidation, all of a company's assets are liquidated and the proceeds are used to pay its creditors in order of priority. If there are any remaining funds after all creditors have been paid, these are distributed to the shareholders in accordance with their respective entitlements. Compulsory or Court Ordered Liquidation  Court-ordered liquidation, also known as compulsory liquidation, is initiated by a court order. This occurs when a creditor makes an application to the court to wind up the company due to the company's inability to pay its debts. Once the court order is made, a liquidator is appointed to wind up the company's affairs. Retaining a lawyer to advise you about liquidation If you're thinking about liquidating your company, you should consult with a law ?rm with expertise in this ?eld. When selecting a law ?rm to assist with your company's liquidation, keep the following points in mind: Experience Experience counts when it comes to liquidation. Choose a law ?rm with a track record of effectively helping businesses through the liquidation process. A ?rm with experience in your industry may also be advantageous because they will be familiar with the unique issues that your company may face. Knowledge The laws and regulations governing liquidation can be complicated and dif?cult to understand. Look for a law ?rm that is well-versed in the Corporations Act of 2001 and its rami?cations for the company you run. A ?rm with experience in litigation can also be bene?cial, as this area frequently intersects with liquidation. Communication You will need to engage closely with your law ?rm during the liquidation process to ensure that everything is handled correctly. Look for a ?rm that communicates effectively, as well as one that is ready to answer your questions and provide direction throughout the process. Cost Because liquidation can be costly, it is critical to select a legal ?rm that offers fair pricing and can provide a realistic assessment of the costs involved.  Pera Lawyers has the experience, knowledge and expertise to advise you about the liquidation process. Our commercial lawyers  can help you understand your legal rights and obligations, guide you through the liquidation process, and help you minimize your risk of personal liability.   Contact pera lawyers FREQUENTLY ASKED QUESTIONS ABOUT LIQUIDATION Common questions from clients that our commercial lawyers answer include:  What are the duties of a liquidator? What are the consequences of liquidation? What is directors liability? CONTACT OUR COMMERCIAL AND LITIGATION LAWYERS Send a message to our commercial and Appointments and consultations with litigation legal team our lawyers Upon receiving your online query, you will be Name* contacted by one of our lawyers to arrange a consultation.  Mobile* Contact Details Email* Suite 8B, 80 Keilor Road, Essendon North Victoria 3041, Australia Melbourne Of?ce: Exchange Tower, Level 1, 530 Little Send us a short message outlining your legal enquiry Collins St, Melbourne Victoria 3000, Australia All mail: PO Box 306, Essendon North VICTORIA 3041, Australia P: (03) 9939 3556 Attachments (0) Attach Files M: 0434 506 596 (Sam Ozturk | Lawyer) Sign up for our email list for legal insights and Law Firm Hours updates from our law ?rm Mon 09:00 am – 05:00 pm Send Tue 09:00 am – 05:00 pm Wed 09:00 am – 05:00 pm Thu 09:00 am – 05:00 pm This site is protected by reCAPTCHA and the Google Privacy Policy and Fri 09:00 am – 05:00 pm Terms of Service apply. Sat Closed Sun Closed Get directions © Mapbox © OpenStreetMap Improve this map REVIEWS REVIEWS Copyright © 2020 Pera Lawyers Pty ltd (ACN 646 048 419) as trustee for the Pera Trust trading as Pera Lawyers (ABN 454 994 910 21) - All Rights Reserved.  LIABILITY LIMITED BY A SCHEME APPROVED UNDER PROFESSIONAL STANDARDS LEGISLATION  Essendon Of?ce (head of?ce): Suite 8B, 80 Keilor Road, Essendon North, Victoria 3041 Melbourne Of?ce: Exchange Tower, Level 1, 530 Little Collins St, Melbourne Victoria 3000, Australia  Property and Conveyancing Property Development Wills and Estates Probate Powers of Attorney This website uses cookies. Corporate and Commercial Business Sale & Purchase Commercial Leases Litigation and Disputes We use cookies to analyze website traf?c Liquidation & Winding Up Unfair Dismissal Terms and Conditions and optimize your website experience. By accepting our use of cookies, your data will be aggregated with all other user data. Accept

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