Insolvent Liquidation
RECOVERING OUTSTANDING DEBTS AFTER ALL OTHER OPTIONS HAVE BEEN EXPLORED
When a company cannot pay its debts and is not able to agree on a viable restructuring plan — a business may be put into Insolvent Liquidation.
This process may be petitioned by a creditor through the courts or chosen voluntarily by directors.
THE DIFFERENCE BETWEEN INSOLVENT AND SOLVENT LIQUIDATION
Insolvent liquidation is when a company can no longer pay its debts and is required to sell off assets in order to pay creditors. Solvent liquidation is when a company is financially stable — but chooses to close permanently. This could be for a variety of reasons.
If Wexted is appointed as a liquidator — we will do everything in our power to recover outstanding debts, while ensuring all parties are treated with respect.
Insolvency
EZI INSTALLATION PTY LIMITED
WE WERE APPOINTED LIQUIDATORS OF EZI INSTALLATION A COMPANY WHICH SPECIALISED IN ROOFING INSTALLATION SERVICES.
Insolvency
FULCRUM AUSTRALIA
WE ARE LIQUIDATORS OF THE AUSTRALIAN SUBSIDIARY, WHICH WAS THE TRADING ENTITY IN AUSTRALIA.
Insolvency
LIFT CAPITAL
LIFT CAPITAL WAS A SIGNIFICANT MARGIN LENDER PROVIDING LOANS TO RETAIL CLIENTS TO PERMIT THEM TO INVEST DIRECTLY INTO EQUITY SECURITIES VIA THE LEVERAGING OF THEIR INVESTMENTS.
Insolvency
ADMINISTRATORS: SARGON CAPITAL PTY LIMITED
WE WERE APPOINTED ADMINISTRATORS BY THE COMPANY’S SECURED CREDITOR. PRIOR TO OUR APPOINTMENT RECEIVERS HAD BEEN APPOINTED PURSUANT TO THE SECURED CREDITORS GENERAL SECURITY DEED (“GSD”) WITH SARGON.
Insolvency
SOZAY PTY LIMITED
WE WERE APPOINTED LIQUIDATORS OF SOZAY PTY LIMITED, A COMPANY WHICH ACTED SOLELY AS CORPORATE TRUSTEE OF THE SOZAY FAMILY TRUST.
Insolvency
SPACE EVENTS
WE WERE THE ADMINISTRATORS TO THE COMPANIES IN THE SPACE GROUP. THE COMPANIES WERE RESPONSIBLE FOR RAISING CAPITAL, SOURCING, MANAGING AND PROMOTING CONCERTS IN ADELAIDE, SOUTH AUSTRALIA.
Insolvency
THE FREAKSHOW FESTIVAL OF MOTORCYCLES PTY LIMITED
WE WERE APPOINTED LIQUIDATORS OF THE FREAKSHOW FESTIVAL OF MOTORCYCLES A SUBSIDIARY OF INSIDE LINE EVENTS INTERNATIONAL PTY LIMITED.
Insolvent Liquidation
PROJECT ALICE
WE PROVIDED INDEPENDENT EXPERT WORK ON A GOLD MINING COMPANY THAT ENTERED INTO LIQUIDATION SEVERAL YEARS AGO.
13TH MAR 2024
Australian Financial Review