Creditors' voluntary liquidation
BRI Ferrier may be appointed as creditors’ voluntary liquidator when an insolvent company’s directors and shareholders resolve to liquidate the company, or when creditors vote for liquidation following a voluntary administration.
Through a creditors’ voluntary liquidation appointment, we take control of the business to facilitate an orderly winding down of its operations and, where possible, provide a return to creditors.
The aim is to achieve the best outcome for creditors by:
- realising assets
- investigating affairs
- considering the sale of business
- reporting to ASIC and statutory bodies
- pursuing voidable recoveries
- mitigating directors’ exposure (through a timely director penalty notice).
Where possible, in a creditors’ voluntary liquidation appointment, we’ll facilitate the sale of the business so it can continue as a going concern to maximise return to creditors.