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We pride ourselves on providing practical advice to assist the security being realised quickly with maximum recovery.
Personal Property and Securities Act We regularly act for receivers and financiers in advising on priority and recovery of secured personal property.
This is clearly a cheaper solution than liquidation but does mean the directors are breaching their duty to the company as set out in the Companies Act 1993 (the “Act”).
A creditor also has the right to object to the company being struck off or have it reinstated which can leave the directors and shareholders with no other option.
Liquidation Management exclusively handle liquidations throughout New Zealand, and our staff are highly skilled and experienced in this area.
This is a great advantage of liquidation and makes it a suitable option when shareholders are seeking to find an exit solution after the sale of their business.Whether the best course of action is to manage your tax debt, or go into liquidation, we will ensure that the course of action taken is as stress-free and straightforward as possible – for all parties.Liquidation Management will guide you through the process and achieve the best outcome for everyone.Only if the company has no assets at all do the liquidators usually ask the shareholders to contribute towards their costs before accepting appointment.This usually makes liquidation a cost efficient way to successfully exit a business and can solve a lot of problems.