Business as usual. We're open for face to face meetings, phone and video calls.

Corporate Liquidation

Are you a sole trader or trading through a company or a trust?
Are the following issues weighing on your mind?
  1. Business debts piling up
  2. Cash flow problems
  3. Losing sleep over how you will pay your employees and suppliers
  4. Being chased for money by creditors, government agencies or suppliers
  5. You have lost the passion or motivation that you first had for your business

Applying for liquidation may help clear your state of mind

There are several reasons why businesses find themselves in financial difficulty. It can be from poor cash flow as a result of adverse economic conditions, unfavourable legal action being taken against the company, ATO debt issues or unpaid creditors being some of these reasons.

Regardless of what the matter may be, there are several options available to deal with your debt concerns. These include assistance in reaching an arrangement with your creditors, help required with winding down your business, or support with bankruptcy, administration or liquidation processes.

We, at the Bankruptcy Advisory Centre Pty Ltd have the experience to guide you through these processes and take the burden off your shoulders!

We encourage you to call us at 1300 887 210 for a complimentary, no obligation chat to discuss the right solution for your specific situation.

Liquidation explained simply

Liquidation is the process of winding up and finalising a company’s financial affairs. Under usual circumstances, a company is placed into liquidation because the company cannot pay all of its debts (i.e. it is insolvent). The purpose of liquidation of an insolvent company is to have an independent and suitably qualified person (the liquidator) take control of the company so that its affairs can be wound up in an orderly and fair way for the benefit of all creditors.

What is the different between voluntary administration and liquidation?

Voluntary administration, via an appointment of an external administrator, usually takes place when there is a possibility of being able to ensure the continuance of the company’s existence and is a type of formal insolvency process that is intended to resolve a company’s financial debt situation as quickly as possible to maximise returns to creditors. However, a liquidation is a type of insolvency that is intended to wind up the company and its affairs. If voluntary administration fails, legally it requires the winding up of the company.

Is Liquidation the best choice for my business debts?

Business debt issues are usually complicated and there is no one right answer to deal with all business debt issues. The options available to you and your company will change depending on several factors, including:
  1. Is your business still currently in operation?
  2. What is the structure of the business (sole trader, partnership, company or trust)?
  3. What are the debt levels that your business is currently facing?
  4. Are there any assets in the business?
  5. How employees are involved in the business?
  6. Does the business have any adverse legal action pending; and
  7. The outcome the business as well as yourself would like to see.

Liquidation is the only way to fully wind up the affairs of a company and end the existence of the company. An independent party such as the liquidator undertakes the process and protects the interests of creditors, directors and members while the company structure is dismantled.

How can an insolvent company be wound up?

An insolvent company can either be wound up
  1. Compulsory by the court, usually when one or more creditors make an application to the courts, or
  2. Voluntarily by resolution of the company directors to end the existence of the company.

What else can I do to clear my business debts?

There are several options available to assist you to clear your business debts. There are also mechanisms in place to ensure any legal action against your business ceases and that employees get paid their outstanding entitlements through a government scheme even if the business does not have the money to pay them.

Please note that there are only some of the indicators for you or your company to consider in determining whether your company needs to be liquidated and directors will require appropriate advice, from qualified professionals.


  • I will definitely recommend Andrew Bell to anyone contemplating bankruptcy. Don't wait! Andrew is there to help. With his knowledge, he can advise you of the best path to take and assist with the mind boggling paperwork.
    Best of all, he is there for you through your entire bankruptcy period.
    Get your life back, it's not as bad as you think.
    Thank you Andrew for lifting the burden and allowing me to move on.

    Karilyn Mahon
  • I saw Andrew for 'advice only' on possible bankruptcy due to a divorce. Left an hour later with the paperwork all done and feeling like a new person!
    Andrew was extremely welcoming and made me feel so comfortable with my decision to proceed immediately.
    This was the best investment I have ever made and cannot speak highly enough of Andrew. He doesn't just give excellent service his follow up afterwards is amazing.
    Thankyou Andrew you made my 'new' life so easy to achieve!

    Vicki Johnston
  • Andrew was very helpful in helping me through the bankruptcy process, as a single mother left with a massive debt from my ex and our previous marriage. I was struggling to keep my head above water on a week to week basis.
    Andrew made me feel at ease immediately and helped me every step of the way, he happily and professionally answered any and all questions I had before, during and after the process.
    Thanks so much for your help Andrew!

    Aisha Edmonds

Fill the form below to download our Free Expert Bankruptcy Guide

What you need to know before declaring bankruptcy