Winding Up Lawyers

Winding up law is a provision of the Corporations Act 2001. The winding up process involves realizing the assets of the company, paying the creditors according to the provisions of the act and distributing any resulting surplus to the shareholders of the company. There are certain situations in which the Act allows creditors to apply to the court to wind up a debtor company.

The most common procedure involves an insolvent company failing to comply with a creditor's Statutory Demand. The debtor company has 21 days to respond to the statutory demand before application can be made to the court to wind up the company. If the debtor fails to respond or apply to have the Statutory Demand set aside, the creditor can apply to the court according to winding up law. Winding up lawyers offer advice and assistance for companies wishing to proceed against a debtor under the winding up law provision.

The winding up procedure is relatively clear-cut, but each step is very technical and knowledge of winding up law is essential in order to ensure compliance at each stage. Our services include preparation and serving of the Statutory demand written to ensure compliance with the Act, preparation of necessary affidavits and act in the interests of our clients with diligence throughout the process.

Rosendorff Lawyers is a winding up law firm with a team of winding up lawyers to offer advice regarding the benefits and risks of winding up. Our winding up solicitors assists our clients in all phases of the winding up process to ensure compliance with the Corporations Act 2001. Contact us to discuss your specific situation and how to best proceed to guarantee a positive outcome.