What is company insolvency?

Regardless of any assets or financial prospects that may be held, any company that cannot meet its financial obligations at the time they fall due for payment is said to be “insolvent”.

Further Information

The Insolvency of your company is likely to involve a range of issues potentially affecting not just the company and its continuing existence, but also the Directors, in person. Use the drop-down menu above or the following links to find answers to questions concerning the following important, related topics

Can solvent companies be wound up?

A solvent company may be wound up by a resolution of its members in a Members Voluntary Winding Up. The Courts may also wind up a solvent company following an application by the company’s Directors or members, for example when there are irreconcilable differences such as a conflict in the company’s leadership. If you need assistance in voluntarily winding up a solvent company, including getting independent support to help you resolve internal differences, call TAP Turnaround Professionals on 1300 518 070

What to do about company insolvency

If you know or suspect that your company is insolvent, it is important for you and your family to act without delay. If you are a director of a company that is continuing to trade, that is, incurring new debts, while insolvent — see Insolvent Trading — you personally as well as your assets may be at serious risk. TAP Turnaround Professionals is dedicated to supporting, informing and helping companies and business owners who are experiencing financial difficulty, and with enough time it may be still be possible to save both your financial reputation and your business.

Our service begins with a free, friendly, no-obligations discussion about how we can help you with your financial circumstances. Call us any time on 1300 518 070

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Are you feeling completely overwhelmed? Do you feel like there’s no hope for the business you’ve poured your heart, soul and savings into? Does it feel like you’re alone, battling against a horde of creditors and unpaid bills?

Well, we’re here to help. We want you to know that you’re not alone and there IS hope. At Turnaround Professionals, we specialise in saving distressed businesses all around Australia with fast, workable solutions to eradicate your financial problems and get you back on track.

About To Give Up Hope On Your Business? It’s Not Too Late.

The symptoms are always the same. You put more and more work into your business to no effect. You work longer and longer hours and yet the bills keep piling up and every phone call makes you jump, wondering if it’s yet another person asking for payment. But the thing is, the problem isn’t your product or service. More hours aren’t always the fix.

There are simple, concrete steps you can take with the financials of your business that will make a world of difference. What you need isn’t to work harder or to stress more. What you need is solid financial and business advice to help you pay down your debts, streamline your business and start making profit again. And that’s where we can help.

Here’s How We’ll Bring You Back From The Brink Of Bankruptcy:

Your own specialist financial distress team working to get your business back in the black and to turn your life around.
A realistic action plan customised for your unique situation which we will help you implement to slash your debts, trim excess costs and get your business profitable again.
Efficient strategies to help you and your family deal with the financial and emotional stress during this difficult time that will get back your quality of life.
Fast, workable solutions for any kind of financial problem that will help you get back on your feet in the shortest time possible.
In-depth finance analysis to unlock money from assets you never knew you had – so you can pay off those debts and stop stressing about unpaid bills.
Clear guidance in the case your business has to be closed, that will make sure you have the softest landing possible that minimises the impact on your family and quality of life.

REMEMBER! When facing bankruptcy every second counts. What you do in the next 24 hours could very well determine the fate of your business and quality of life. Simply fill in the form below and one of our specialist financial distress business coaches will get in touch with you right away.

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