Will Company Liquidation Put You at Risk?
Company Liquidation requires a detailed investigation in which you, the Director are a prime target. It makes sense to undertake a Directors’ Risk Assessment before making any appointment.
And by risk, we are specifically talking about the potential of losing personal assets as a result of the company liquidation process.
The process of liquidation is designed for the benefit the creditors, not the directors. Liquidators act for the creditors (even if you pay for the liquidation – you are not the client).
Directors have no influence over the liquidator or the liquidation process and a liquidator must investigate a directors performance and use of company funds and property
We Offer a Director Risk Assessment Before Liquidation
Liquidation can be a traumatic experience and lead to the loss of personal assets.
Liquidators run legal claims against Directors and their personal assets (insolvent trading etc). Do Not place your company into liquidation without thought or planning as to how to safeguard yourself
and your personal assets.
When you place a company into liquidation you are:
- Exposing yourself to an investigation
- Exposing yourself to the risk of potential legal claims
- Risking the loss of your personal assets
For this reason, before you liquidate, you need to consider the risks, how the process may affect you, and plan for those possibilities. There are many alternatives and strategies to protect your assets and that will leave you in a better financial position than if you had immediately placed your company into liquidation.
Our Commitment to You
- We will provide a full assessment of the likely risks to you and your family
- We will assess your true financial position and provide all the alternatives to Liquidation
- We provide Company Liquidation Advice not provided by others
Liquidation Carries Risks to your Personal Assets. We will Assess the Risk and Act in Your Best Interests.Source: insolvencyexperts.com.au