If you live in the Adelaide area and think you need to appoint a liquidator for your business then call us before you do. If you run a business that’s drowning in debt you need to know liquidation is not your only option. If your business fails you risk losing a lifetime of hard work and savings. It could also impact upon your personal savings and assets! At Liquidation Adelaide we are business debt specialists. We specialise in helping you resolve your debt issues, avoid liquidation and get the best outcome fast! For a free consultation and a clear look at all your options call Liquidators Adelaide on 1300 818 575.
If you find yourself trapped in an impossible financial corner you may have been told by your Financial Advisor, Accountant, Solicitor or even a friend to contact a liquidator and place your business into Voluntary Liquidation. But this may not be the right option for you. You see, the mistaken idea is that because you are paying the Liquidator they will look after your best interests and help you get back on your feet. Sounds logical, right? But the reality is, NOTHING COULD BE FURTHER FROM THE TRUTH!
What we have found is that Liquidators, Administrators and Receivers are usually nice people … but, once you appoint them, it is their responsibility to look after your Creditors (people you owe money to) not you! Their job is to sell off your assets and recoup as much cash as possible from your company and pay it to your creditors! If for one minute you think they will consider your best interests you are sadly mistaken. You do not even factor into the equation.
Once you sign the documents to appoint a Liquidator, that’s it! You’re no longer in control. You are no longer the Director. You no longer have any say over the company, its customers, or assets. T they’ll even change the locks on the doors. The liquidator (you paid) will do whatever they think is in the best interests of the creditors. And in most cases you have just paid for your own business death! Is that what you want?
Now maybe you’re thinking this can’t be right. Maybe you still think that because you’re paying the Liquidator’s bill you have a say in what happens next. Here’s why you don’t:
The liquidation process is highly regulated. If the liquidator you appoint steps outside the regulations they face serious consequences. They have a responsibility to act within the guidelines and quite simply that means to sell off whatever they can and pay it to your creditors.
Maybe you’ll change your mind after you read what one director told me after going through liquidation on the advice of his well-meaning accountant:
“You were right you know, I should have listened to you. My accountant told me to liquidate my business so I did. He told me that because I am paying for my own liquidator and that it would be a Voluntary liquidation, I wouldn’t have a problem. They would look after. But he was dead WRONG!
“I will never forget I met with the Liquidator at about lunchtime on a Friday, I paid him on the spot, thousands of dollars, and they seemed like very nice professional people. They told me they would help me as much as they could to work through my debts. I gave them all the financials of the business a list of assets etc, it all seemed to be going smoothly. Wow, was I in for a shock. The minute I signed the paperwork the Liquidator asked for the keys and that was it. Everything was taken out of my hands and I was even locked out of my own business. By the end of the following Monday my bank accounts were frozen, my customers were all informed I was no longer the business owner, and I was locked out of my own business. 23 years of hard work gone in a weekend. What I thought was going to help my situation turned out to be my worst nightmare. I lost everything!”
This is an all too familiar story.
At Liquidation Adelaide we believe preparation is the key to getting the right outcome for our clients. We believe you should NEVER appoint a liquidator without getting the right advice first, no matter how bad your situation seems right now. Whether a liquidator has been appointed by the courts, or you appoint them voluntarily yourself, there is plenty you must know and do to get the best possible outcome. The key is; involve us before you call a liquidator. We are pre-insolvency specialists. It is that simple.
One of questions we get asked the most is “Can I continue to run a business if I have been the director of a company that has been liquidated?”
The answer is yes, but there are a number of regulations and laws in place that need to be abided by if you are to spare yourself pain down the track. You will need to ensure you structure things the right way moving forward. And that’s one of the things we will advise you on. Liquidation doesn’t need to be the end of your business as so many people think. We can help you chart a safe course through this and rebuild a new life after liquidation. You do have options, but in most cases people simply don’t know what they are. We can explain your options and help you achieve your goals. You may just want to be debt free and move on, we can help you achieve that too.
We help you discover what options are available to you depending on your circumstances, then, we recommend what course of action would deliver you the best possible outcome. We help you protect whatever we can. We communicate the right way with your creditors, the Liquidator if required, the ATO, Work Cover and others that are pressuring you. Sometimes communication is all that’s needed, sometimes winding up the company is the answer and sometimes negotiation is required. Whatever is required, we will help you work through a plan and support you through the entire process. If you need to talk to someone, or need a free consultation, call Liquidation Adelaide 1300 818 575.
You are our client – Getting the best outcome for YOU is our priority.
Firstly, the answer is it’s never too late to give us a call. Generally though the rule is the sooner you call us the more options you will have. Keep a close eye on the mail. If you receive a legal notice such as; A Creditors Statutory Demand, or a Statement of Claim, maybe the ATO has sent you a wind up notice or a Directors Penalty Notice (DPN) just to name a few then act now. Time is of the essence. And the longer you ignore the mail the fewer options you have available to you. If this is you DO NOT LET THEM FALL DUE! Call us as soon as you get them and we will help you work through your options. At Liquidation Adelaide we give you the right advice over the phone immediately, so you know where you stand.
Once we walk you through what needs to happen it’s totally up to you from there whether you feel we can help you. It is your choice whether you proceed from that point, but at least you’ll clearly see your full scope of options. With the right information you’ll be in control again.
Call us for a free consultation today! 1300 818 575.
Be prepared. Liquidators don’t work for you no matter how much you pay them. Your creditors won’t suddenly wipe your debts no matter how much of their bill you pay them. Your friends love you but usually have no idea what they are recommending to you. They’ve probably heard that if you want to start again you need to get rid of the company through a liquidator and it is an easy assumption to make that if you pay a liquidator they will work for you. Please understand, THIS IS NOT THE CASE! At Liquidation Adelaide we work for you. For a fresh look at your options call now for a free, no obligation consultation on 1300 818 575.
First Consultation FREE – No Obligation – CALL 1300 818 575
First Consultation FREE – No Obligation – CALL 1300 818 575