The Effect on a Company During Liquidation in NZ
When your company goes into liquidation in NZ, the director, employees and creditors will be affected differently. As a liquidator, our role is to impartially find the best overall outcome that benefits everyone involved, including shareholders and creditors. With experience helping a range of companies carry out the liquidation process, we know how to follow the law and consider the views of everyone affected.
What You Can Expect from Don’t Be Limited Regarding Business Liquidation in NZ
We offer a professional and friendly service for companies requiring liquidation.
- There is no signup fee: Our services do not require a start-up fee as we believe that people are first and foremost the most significant concern during liquidation. We take an empathetic and understanding approach to your company’s liquidation and ensure to make the process is as stress-free as possible.
- We seek the best outcome for everyone: As a liquidator, we remain independent during the entire process and ensure to seek the best results for all parties involved, including creditors and shareholders. We provide solutions that work for your business.
- We have extensive experience: We have worked with various business owners and legally helped them through the liquidation process. Our services currently cover Auckland, Waikato and the Bay of Plenty area. However, we can work anywhere in NZ if required.
The Effect of a Business Liquidation in NZ
Liquidation will affect company people differently, such as:
- Directors. A director is required to fill out a Statement of Affairs form which declares the company’s history and trade, shareholder information, why the company failed, a list of assets and liability and whether there are any legal claims made by or against the company. The director is also responsible for helping the liquidator answer any questions or locate records.
- Employees. The liquidator will determine if the business remains open and trading during the liquidation process in which case an employee may continue working. Should the company close, employment is terminated, and an employee can claim in the liquidation if they are owed salary, wages, holiday pay or redundancy.
- Creditors. Secured creditors can deal with the company’s secured assets and decide to appoint a receiver. However, unsecured creditors can’t take legal action against a company in liquidation or handle its property without permission from the Court or liquidator.
Why Trust Don’t Be Limited Regarding Companies Undergoing Liquidation in NZ?
We are an independent and experienced liquidator that values honesty, integrity and take a friendly, yet professional approach with our clients. We provide insightful knowledge and help small business owners who require liquidation while making the process smooth and worry-free. Our empathy for a client’s situation means that we will present and consider all possible options available and work towards achieving the ideal outcome for you. We have liquidated numerous companies in NZ and have previous experience working at Inland Revenue and as a business owner. Contact us today for help with your company liquidation in NZ.