Receiving an Application to Liquidate – The next steps

Do you want to know what to do if you have recently received an Application to Liquidate? An Application to Liquidate should be taken very seriously. There will be a court date set in the paperwork you receive with an Application to Liquidate, which will come either from the IRD or another creditor.  If you choose not to do anything by this date your company will be wound up and your business will be lost.  In order to prevent this from happening you will have to either pay the outstanding debt, go into voluntary administration where the administrator will work through a deed of company arrangement with an offer to creditors and your business can continue to run, or liquidate your company voluntarily, generally the preferred option.

 

Liquidating your company voluntarily will give you some measure of control, and is a much better option than being wound up by the IRD or a creditor.  Debt Solvers has used their specialist knowledge and helped many companies through liquidation when they thought they had lost everything.  Give Debt Solvers a call today to find out why we are New Zealand’s no. 1 liquidation experts.

 

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