Business Bankruptcy

 

If you are a business owner and you have a combination of personal and business financial obligations, then it’s possible to have the majority – if not all, of the debts eliminated with bankruptcy. Keep in mind this is a complex process and needs specific focus. The truth is, personal bankruptcy doesn’t automatically mean business bankruptcy too. Whether you operate your business as a Sole Trader, Partnership, Company or Trust we can help explore your alternatives. Call us on 1300 339 604 for a no obligation FREE consultation.

What impact will bankruptcy have on my business?

 

There are limitations for business owners that are bankrupt. For example, as a bankrupt business owner you can operate your own business as a sole trader only. For some business owners, bankruptcy can impact their ability to manage the business due to industry licensing requirements. For example, a contractor with a builder’s license can not use that license for the 3 years he or she is bankrupt. There are other implications for bankrupt business owners that need to be considered. If you want to know more, please call us for a no obligation free consultation on 1300 339 604.

Should I Consider Liquidation?

 

One of the main factors you may want to consider in liquidation rather than bankruptcy is because if you liquidate your business, it does not definitely mean you need to declare bankruptcy. In Australia, businesses that become insolvent have a couple of alternatives, including liquidation, voluntary administration etc. If you would like to know more call us on 1300 339 604.

Isn’t it illegal to run a similar business after bankruptcy?

 

Possibly. There are considerations when and if you declare bankruptcy as a business owner. You can not accumulate loads of financial debt in your business, then declare bankruptcy and after that open the doors the following day like nothing has taken place. There are regulations in place to stop what is called ‘Phoenix companies’ rising up out of the ashes of an old business. Don’t get overly stressed out worrying what you can and can’t do as a company owner; simply get the appropriate assistance by contacting Bankruptcy Solutions today on 1300 339 604.

Ructuring a Company to relieve debt

 

There are times when Companies experience a significant event which triggers overwhelming debt. Continuing operations might seem difficult – Company restructuring can offer the solution you are searching for.

This is where Bankruptcy Solutions can assist. We’ll look carefully at your company to examine all available options. In many circumstances, restructuring will offer reprieve from debt and strengthen operational feasibility. Bankruptcy Solutions will guide you through the entire process.

If your Company is in financial stress, we can help. Call us now on 130 339 604.

If you are a Sole Trader or Partnership, please visit our Personal Bankruptcy pages.

Assisting Directors through the Liquidation process

 

Though the Company may be in liquidation, that does not indicate your interests are being looked after. The responsibility of a Liquidator is to look after Creditors – not Directors. Bankruptcy Solutions can help! We offer independent recommendations to safeguard your interests, your individual assets and your lifestyle. You and your family shouldn’t need to lose everything you’ve worked so hard to attain just because the Company is financial difficulty.

Call Bankruptcy Solutions on 1300 339 604 to discuss how we can help.

If you are a Sole Trader or Partnership, please visit our Personal Bankruptcy pages.

Assisting Companies prepare
for Liquidation

 

If your Company is about to enter into liquidation, Bankruptcy Solutions will deliver independent assistance developed to work in the best interests of those involved.

The Company’s balance sheet will be examined to gain a full understanding of the situation. Then with input from the Director/s, the most appropriate action in order to maximise returns for Creditors and Shareholders will be implemented.

Our extensive experience in assisting Companies to prepare for Liquidation means we are able to navigate you through the process.

Call Bankruptcy Solutions today on 1300 339 604 for assistance.

If you are a Sole Trader or Partnership, please visit our Personal Bankruptcy pages.

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