Business, Restructuring & Insolvency Insights
Practical insights, analysis and updates from WCT Advisory's experienced financial advisory, restructuring and insolvency specialists.
Explore our latest thinking on business financial distress, restructuring, insolvency, corporate finance, taxation, business valuations, director obligations and emerging issues affecting Australian businesses.
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Liquidators and Liquidations
This is the eighth in our series of articles at informing directors of their duties and options for small to medium enterprises if faced with insolvency. This particular article will deal with liquidations and the role of a liquidator.
A liquidator can be appointed by either a creditor (through a Court application) or voluntarily by members of the company. A liquidation can be either solvent (i.e. all liabilities are paid and there is a surplus for shareholders) or insolvent (i.e. when there are insufficient assets to pay all liabilities).