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Liquidators Alice Springs

Business debt can arise remarkably quickly. A few sluggish months and all of a sudden the debt is generally a very long way beyond the reach of the company owner. If you have business debts that are really out of control then give us a call. At Liquidators Alice Springs our company are company debt professionals. For a completely free consultation call Liquidators Alice Springs on 1300 818 575.

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Bankruptcy Alice Springs,Bankrupt Alice Springs,Insolvency Alice Springs

If my business is really in trouble should I call a liquidator?

Commonly when a company owner finds himself or herself in an unworkable financial position they are advised by their bookkeeper, their solicitor or even their friends to get in touch with a Liquidator and place the company into liquidation. Be extremely careful about this. We have gotten to know, here at Liquidators Alice Springs, that many people believe that just because you are paying the liquidator they will protect your best interests and help you to get you back on your feet. HOWEVER, THIS IS WITHOUT A DOUBT NOT THE CASE!

Liquidators Alice Springs is on your side

Although administrators and receivers are often nice individuals, their responsibility, once they are actually appointed, is to your creditors (people you owe money to) and to the courts. These guys are to amass as much money as possible from the liquidated business to pay these creditors. That’s it. If, for one second, you feel they will protect your best interests, you are regrettably mistaken

Once you have actually signed those papers to establish liquidators to your company; that is it! You no longer have any say over your company. The liquidator will do whatever they feel is in the best interests of the creditors and, guess what, in most cases you have actually just shelled out for the death of your own company.

Bankruptcy Alice Springs,Bankrupt Alice Springs,Insolvency Alice Springs
Bankruptcy Alice Springs,Bankrupt Alice Springs,Insolvency Alice Springs

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One Business Owner’s Story

I realized I was in trouble when the bank wouldn’t lend me any more against the farm. This home has been in the family for years and the thought of losing it was way too much. I called my financial advisor and my bookkeeper, and they both encouraged me to go and see Liquidators Alice Springs which I didn’t do, of course. I found this other liquidation organization and they said that’s the only escape. I knew I had significant debt, but it just appeared like I had no alternative. My accountant said that since I am shelling out for the liquidator and that it was going to be a voluntary liquidation that I would most likely be taken care of. WRONG!

I found some Liquidators, they seemed to be professional and capable and these people said they would help me as much as they could to overcome my money issues. I had no idea what was going to happen. They seemed to understand my predicament; I had some cash coming in and a sale of some equipment going through.

The moment I signed the documents the liquidators asked for the keys and that was it. Everything was taken out of my hands, the sale of the equipment was completely taken over, the money I had coming in was gone, they took over each and every single thing; it was all gone. The next day my savings account was frozen and what I thought was reallying going to be a beneficial situation became my worst nightmare. I lost everything!

Bankruptcy Alice Springs,Bankrupt Alice Springs,Insolvency Alice Springs
Bankruptcy Alice Springs,Bankrupt Alice Springs,Insolvency Alice Springs

What is the leading strategy if my business is in crisis?

There is a trick to dealing with this situation: PREPARING. There is quite a lot you can do to ready yourself; before you yield the control of your business call Liquidators Alice Springs and we will help you walk through the minefield that it can be. In fact, most of the stress and anxiety can be dealt with in such a way that will work for you, not against you. This sounds easy but, actually, there is an considerable amount of law and many rules in place surrounding this process so getting the correct advice from Liquidators Alice Springs is always a safe option. If you are unsure what you should do and just need some guidance, simply give us a call on 1300 818 575. Liquidators Alice Springs specialises in pre-liquidation strategies.

What if someone else is winding up my business?

If someone is winding up your company, like the ATO or a creditor, they are going to have a liquidator appointed from the courts. You do have some choices right here and certainly there is lots you must understand and do to protect yourself – feel free to contact us for a free consultation here at Liquidators Alice Springs. The key here is to get some advice and include us as soon as you can in this process. It is that basic. Normally you will receive a notice in the mail or a court order, and if you have one of these call us because the longer you ignore this the fewer alternatives you have. Call us at 1300 818 575

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Bankruptcy Alice Springs,Bankrupt Alice Springs,Insolvency Alice Springs

Can I keep run a business if I have been the director of a company that has been liquidated?

Yes, you can still run a business. No, you can not still be the director of the company that has been liquidated. This is among the most typical questions we are asked. Naturally, there are policies that must be stuck to, and you must ensure you structure things in the proper way moving forward. Liquidation does not have to be the end of your business life, as a lot of people think it does. We can help you to do this and rebuild a new life after liquidation. There are options, but in most cases people simply have no idea just what they are. At Liquidators Alice Springs, we can discuss your options and help you accomplish your goals.

What do I must do?

Be prepared. Liquidators don’t work for you, no matter how much you pay them. Your creditors don’t work for you, no matter how much of their bill you pay them. Your friends love you, but often have no thought to what they are recommending to you. They’ve probably heard that if you want to begin again you should throw away the company through a liquidator and it is an convenient assumption to make that if you pay a liquidator they will work for you. Understand – THIS IS NOT THE CASE! WE WORK FOR YOU– nobody else does. You are our client and we are only concerned with getting the result you want. For a free appointment call Liquidators Alice Springs 1300 818 575.

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Bankruptcy Alice Springs,Bankrupt Alice Springs,Insolvency Alice Springs

What do we do?

At Liquidators Alice Springs we help you work through your choices. We than help you take the ideal step. Then we work toward getting the best possible outcome for you and protecting whatever we can. We communicate the proper way with your creditors and deal with the situation. Call us now at Liquidators Alice Springs on 1300 818 575.

What happens if I have an ATO Debt?

If you have an ATO debt, don’t ignore your mail! The ATO will often provide companies Wind-Up Notices or Statutory Demands, or perhaps even a Director’s Penalty Notice on you or your company. If this is the case, you must act fast! Sometimes communication is all that’s involved, at times winding up the company is the answer and sometimes negotiation is required. Despite what is required, we will help you work through a plan and we will support you the whole way.

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Bankruptcy Alice Springs,Bankrupt Alice Springs,Insolvency Alice Springs

What If I have gotten a notice from the Tax Office?

If you have actually received one of these notices YOU MUST NOT LET THEM LAPSE. Contact us as soon as you get them and we can help you work through the steps readily available to get the best and most beneficial outcome for you. As soon as we have done an assessment of the business and the circumstances we recommend an response plan. Then it is your choice whether you proceed from there. Call Liquidators Alice Springs today for a free consultation on 1300 818 575.

ATO – DIRECTOR’S PENALTY NOTICE

Directors Be Warned

What is critically important is that each and every business owner understands these changes and the dangerous nature of them and how they will certainly impact you and your business. If you have a tax debt then you may be generally issued with a Director Penalty Notice by the ATO.

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Bankruptcy Alice Springs,Bankrupt Alice Springs,Insolvency Alice Springs

What does it mean if I have a Director’s Penalty Notice?

The aim of a Director Penalty Notice is to get directors accountable for their business’s unpaid tax debt. As a director, you will not manage to avoid personal liability for a PAYGATO debt, which has a Director Penalty Notice, if the following applies:

  1. Your debt is older than three months and or your debt was not reported to the ATO within 3 months of the due date.
  2. As a director, you may also be liable for your companys unpaid superannuation liability when you get a penalty.
  3. Directors, and associates of directors, may now also be liable for a new personal income tax liability. This will make directors and their associates possibly liable for a companys unpaid PAYG withholding liability.

Do I have any choices?

Yes. If your company has an ATO debt or you have received a Director’s Penalty Notice, it is important that you seek expert advice, as we have numerous options you may must think about. Simply call liquidators Alice Springs on 1300 818 575.

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Bankruptcy Alice Springs,Bankrupt Alice Springs,Insolvency Alice Springs

What if I pay no attention to the notice?

There may be considerable repercussions for not complying with the ATO’s notice; this can include losing personal assets like vehicles, property or shares, and personal bankruptcy for the business’s debts.

STATUTORY DEMANDS

What is a Statutory Demand?

A Statutory Demand is a demand generated under 459E of the Corporations Act. This documentation is not issued by the Court. A Statutory Demand requires that the Debtor Company pay a specified sum of money within 21 days from the period of the delivery of the demand on the Debtor Company.

If the debt is disputed, or if there are exceptions in the document, the company should quickly get independent legal advice and apply to the Court to set the demand aside on the basis that the financial debt, then the target of the Statutory Demand is in fact contested. This application MUST be made within 21 days.

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Bankruptcy Alice Springs,Bankrupt Alice Springs,Insolvency Alice Springs

What if the Statutory Demand expires unsatisfied?

Section 95( A) of the Corporations Act provides that a company is solvent if it manages to pay its debts as and also when they fall due. Accordingly, the test as to whether a business is insolvent is that it is unable to pay its debts as and when they are simply due.

Under Section 459C of the Act, the company is presumed to be insolvent if a company has failed to comply with a Statutory Demand. Then, the delivery to a Debtor Company and non-compliance with the Statutory Demand will offer ‘proof’, which is actually sufficient for a creditor to register to the Court for the appointment of a liquidator to the company.

Can the Statutory Demand just turn up in the post?

Yes, it might be provided face-to-face or simply appear in the mail as registered mail..

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WINDING UP NOTICE

Bankruptcy Alice Springs,Bankrupt Alice Springs,Insolvency Alice Springs

What is a Wind-Up Notice?

A wind-up notice normally follows a Statutory Demand. If a business is not able to pay its own debts then the Court has the power to wind it up and appoint a liquidator whose obligation it is to convert the assets into cash and disburse the cash in the order laid out in the Corporations Act. In other words, this notice is basically a letter informing you that on a certain date a liquidator will be designated by the courts to take over your company if you do not pay the debt.

Who can send me a Wind-Up Notice?

The creditor who obtains the appointment of the liquidator and the liquidator take priority in regard to their expenses, as do particular employee entitlements. The remainder is distributed equally amongst unsecured creditors.

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Bankruptcy Alice Springs,Bankrupt Alice Springs,Insolvency Alice Springs

Will I be personally obligated for my businesses debt?

No. The liquidation of a company does not instantly imply the director will be generally made bankrupt; however, the method of winding up a company is similar to the process of having a person declared bankrupt. Having said that, the ATO can issue a Director’s Penalty Notice whenever, so it’s ideal to take action quickly. For a cost-free consultation get in touch with Liquidators Alice Springs on 1300 818 575.

What occurs if I can not pay the debt within the 21 Days?

A liquidator will be actually appointed and you will not be the director of your company. The court will select a liquidator who then seizes full control of your company. All of the clients, cheque accounts, assets, cash, money that’s owed to the business and your buildings are no longer yours. In other words, it’s over. The company you have built over the years is no longer yours. All the resources will be sold, your office, shop or factory will be seized by the liquidators (they will even change the locks) and your services are simply no longer required. Every feature of your business will now be under the administration of the liquidator.

Bankruptcy Alice Springs,Bankrupt Alice Springs,Insolvency Alice Springs
Bankruptcy Alice Springs,Bankrupt Alice Springs,Insolvency Alice Springs

Do I have any choices prior to the Liquidators seizing my business?

Yes. Our company offers a free initial consultation to help you work through this problem. Our team of professionals can spare you incredible distress. You have to act rapidly! Calling us the day before the liquidators appear is pointless. Contact Liquidators Alice Springs today on 1300 818 575.

Do I have any opportunities once the Liquidators have arrived?

No. The business is no longer in your control.

Bankruptcy Alice Springs,Bankrupt Alice Springs,Insolvency Alice Springs

Bankruptcy Alice Springs,Bankrupt Alice Springs,Insolvency Alice Springs

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