Liquidating business nz

If you don’t act, you face having the court appoint the liquidator (who is often chosen by the creditor that you owe money to) and they are far less supportive.

Mc Donald Vague provides a specialist service conducting solvent liquidations.

Their role is reporting to the Companies Office, and selling and distributing assets to creditors according to the law.

BWA Insolvency understand that this is a difficult time and will walk you and your creditors through the process and ensure that everyone is up to speed, every step of the way.

In some situations, a creditor may apply to liquidate a company with a court order.

Although the company may have paid all known debts, the shareholders can rest assured that once the formal liquidation process has been completed they are highly unlikely to be called upon for anything that may arise in the future.

The directors of a company must first make and file resolutions as to solvency before the liquidation can commence.

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