If a creditor has filed a Notice of Winding Up under Section 459P of the Corporations Act – You need to take act immediately. Even late in the day, there are options that may be available to you.
The Insolvency Experts Can Help You:
Options Are Still
Save Your Business
If you’ve received a Statutory Demand and you have failed to respond to it, or made an application to set it aside, within 21 days, your company will be deemed to be insolvent – even if it has an surplus of assets to liabilities.
The creditor that issued the Statutory Demand can then make an Application to issue a Winding Up Notice to your company.
When a creditor does this, they are also required to lodge, with the Australian Securities and Investments Commission (“ASIC”), the Notice of Intention to Wind Up your company and to place an advertisement in a national newspaper indicating the applications hearing date.
Call 1300 767 525 to speak with us, Free of charge, 24 hours a Day, or complete the form below and we will get back to you within 30 minutes!Call FREE Expert Advice 24/7
At this point, the matter becomes public knowledge and available for anyone to see. As many businesses review these notices on a daily basis, this alone may have a negative effect on your business.
Once the winding up application is issued, and even if you settle the debt with the original creditor, another creditor can file a Notice of Appearance and make an application to substitute their claim against your company.
From there you will have to pay the second and any subsequent creditors that file Notices of Appearance.
So apart from potentially damaging information becoming public, you may have to deal with and pay more than one unhappy creditor. Of course this could also see you incur legal costs in trying to deal with each claim.
Call 1300 767 525 anytime or fill in your details below and one of our expert advisers will get back to you within 30 minutes!
Licensed Expert Answers All Calls 24/7
(Not a Call Centre Salesperson!)
We are a specialist insolvency practice providing free 24 hour advice to company directors & individuals throughout all states & territories of australia.
Our highly experienced & trusted professionals are qualified, licensed & regulated by the asic.
Established in 2006, we were the original, low cost liquidation provider and have since helped thousands of directors and hundreds of companies in a wide array of industries.
24/7 Helpline 100% of Calls Answered by Qualified Expert – not a call centre
ASIC License 296215 since 2006
Operating in All States of Australia
30+ Years Experience
1,500+ Directors Assisted Annually
85% of liquidations effectively completed within 4 – 6 months
Low Cost Liquidation Expert
Rated 5 out of 5 on Google Reviews
Uncover POWERFUL TRUTHS about liquidation that others won’t tell you