Liquidating business nz

If you don’t act, you face having the court appoint the liquidator (who is often chosen by the creditor that you owe money to) and they are far less supportive.

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When a company goes into liquidation, it really is the death knell. Shareholders may place their company into voluntary liquidation, if, for example, they think it is going nowhere and they may as well sell off assets, discharge liabilities and get back the remainder.Although the company may have paid all known debts, the shareholders can rest assured that once the formal liquidation process has been completed they are highly unlikely to be called upon for anything that may arise in the future.

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