Court Liquidation

Support for a Strong Future

At Roger and Carson, we specialise in providing comprehensive court liquidation services customised to meet your business needs.

Whether you are facing financial difficulties or looking to realise assets and pay creditors, our experienced team is here to guide you through every step of the process.

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What is Court Liquidation?

Court liquidation, also known as compulsory liquidation, is a legal process where a company is ordered by the court to end its affairs. In most cases, creditors who are owed money initiate this process. The primary goal is to liquidate the company’s assets to repay creditors as much as possible.

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The Court Liquidation Process

Filing the Petition

A winding-up petition is filed by a creditor or creditors, company, or its directors and submitted to the court.

Court Hearing

The court reviews the petition and, if satisfied that the company is insolvent, issues a winding-up order.

Appointment of Liquidator

Once the winding-up order is issued, an official receiver or a licensed insolvency practitioner from Roger and Carson is appointed as the liquidator.

Asset Realisation

The liquidator takes control of the company’s assets, which are then valued and sold.

Debt Repayment

The proceeds from the sale of assets are distributed to creditors in the order of priority established by insolvency law.

Dissolution

Upon finalisation of investigations the Company is dissolved.

Advantages of Court Liquidation

Creditor Satisfaction

The court liquidation process ensures that the proceeds from the sale of the company’s assets are fairly distributed to the creditors who are owed money.

Orderly Wind-Up

With the help of court liquidation, you can properly terminate your company’s dealings and affairs. It will assist in minimising the uncertainty and chaos of the situation.

Expert Guidance

When you go through the court liquidation process, there are professional insolvency practitioners involved to make sure you are compliant with all legal requirements.

Legal Protection

Once the court releases the winding-up order in compulsory liquidation, creditors can no longer sue the company.

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Our Services

As our tagline says, “support for a strong future” our team at Roger and Carson is always ready to assist company directors understand compulsory liquidation and help them through the process.

It is not just directors, but creditors also work with us to manage the realisation and distribution of assets. We offer the following services:

Compulsory or Court Liquidation

We are here to assist company directors start the process of court liquidation in a professional manner.

Creditor Appointment

We also work on behalf of creditors and act as liquidators to oversee the process and give proper returns to the creditors.

Why Choose Roger and Carson?

Our team at Roger and Carson has an innate understanding of insolvency laws. We have also worked on numerous complex cases of court liquidations and have years of experience in overseeing the process for a fair distribution of dividends.

Trust us to provide you with tailor made services and advice that will help you overcome your financial challenges.

Schedule a Call With Us

Are you facing a court liquidation? Let’s talk about how we can make the process as smooth and stress-free as possible. Schedule a call with Roger and Carson today.

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Get Started Today

Get in touch with Roger and Carson today, if you are considering court liquidations or are facing financial difficulties in the company.

We will allocate you a dedicated team to reach the best possible solutions for your business.

FAQ

Who can initiate court liquidation?

Company directors or creditors can initiate court or compulsory liquidations. To do so, they only need to file a winding-up petition in court.

What are the signs that my company might need court liquidation?

If you are unable to repay your debts, getting statutory demands from creditors and pressure from them to pay unpaid bills, then you can consider that its time to file for a court liquidation of the company’s assets.

What is the role of the liquidator in court liquidation?

A liquidator, in our case a representative from Roger and Carson, will take control of all the company’s assets and will sell them to fairly distribute the proceedings to the creditors. He or she will also oversee that the whole liquidation process is compliant with the current insolvency laws and, if needed can also investigate the company for fraudulent or wrongful activities.

How long does the court liquidation process take?

The duration depends completely on the complexity of the company’s situation and the amount of assets that need to be liquidated. Generally, this process takes several months to over a year to complete.

What happens to employees during court liquidation?

Employees are typically made redundant, but they can claim unpaid wages, holiday pay, and redundancy from the government’s Insolvency Service.

What are the alternatives to court liquidation?

Alternatives include Company Voluntary Arrangements (CVAs), administration, and Creditors' Voluntary Liquidation (CVL), which might be more suitable depending on the company’s circumstances.

What should I do if I am considering court liquidation for my company?

Contact Roger and Carson for an initial consultation if you are considering court liquidation. Our experienced team will help you assess your situation and guide you through the best available options.

Enquiries

Where to find us

Level 35, One International Towers 100 Barangaroo Avenue SYDNEY NSW 2000

105, 33 Lexington Drive BELLA VISTA NSW 2153

Email us at

info@rogerandcarson.com.au

Call us at

(02) 8046 7588