Winding Up Applications
A company can be wound up for a number of reasons including: -
- when a creditor applies for it to be wound up in insolvency;
- as part of oppression proceedings;
- when it is just and equitable to do so.
Most commonly companies are wound up due to a failure to comply with a statutory demand as that creates a presumption that the company is insolvent. A winding up application of this kind can be made in the Supreme Court (or in the Federal Court).
It is generally advisable to get help from a lawyer as winding up applications are technical. There are also a number of procedural steps required and the time limits for compliance can be tight.
If you have served a statutory demand upon a company (or received one), there was non-compliance and the next step is a winding up application then book a conference with us to discuss your case. We can help with the winding up application (or to oppose it) depending upon the case.
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