Often it is assumed that when a company is liquidated the company is at the point of insolvency and extreme financial difficulty. Yet there can be many other occasions when the costs associated with maintaining the company’s structures can be costly and unnecessary. Thus, a Members’ Voluntary Liquidation (MVL) allows a solvent company to pay its debts and wind up in a straightforward manner which can often provide tax effective solutions to the stakeholders involved.
The primary objective of an MVL is to realise assets, satisfy creditors’ claims (if any) and distribute the proceeds amongst the shareholders while also releasing them from the obsolete corporate structure.
In order to complete this process, a Liquidator is often chosen once a special resolution has passed to wind up the business.
The Liquidator has many crucial roles in this process to fulfil all government agency requirements, process all tax and creditor obligations and ensure assets are distributed according to the best interests of all stakeholders.
With well over 30 years’ experience Jonathan Paul McLeod is a leader in the field of liquidations. As a liquidator Jonathan McLeod works within the ASIC guidelines and Corporations Act to consider all available options and solutions for each administration in order to get the best outcome for stakeholders.
To take advantage of the firm’s expertise, please contact Jonathan Paul McLeod today at McLeod and Partners on (07) 3004 0800 to discuss how we can help you wind up your company giving you confidence and peace of mind.