Analyze the effects of liquidation on the liquidating corporation Sexy skype username
In that six month period, there were: That’s a total of 219 actions in the world of corporate insolvency.
Not many considering there were around 3500 potential actions.
In a voluntary liquidation, a company which carries on a regulated business is required to serve notice of the winding up on the relevant regulator.
A company may also be placed in provisional liquidation for a limited period, where the intention is to preserve and maintain the company’s assets before having the company liquidated. Liquidation procedures are formally approved either by order of the court in a compulsory liquidation or by resolution of the members in a voluntary liquidation.
But to get that information they have to specifically tick the relevant box, and pay for it.
So that “mark” on a credit record is there, but it is unlikely to be noticed if you are applying for credit in a personal capacity.
The primary procedure to liquidate an insolvent company in the Bahamas is either compulsory liquidation or voluntary liquidation.
That’s a lot of insolvencies, a lot of worried directors and, as it turns out, a lot of breaches of the Corporations Act.
So overall, if you are a director of a company facing liquidation, there are some things to worry about, but it is probably not as bad as you fear.
Kirsten Robb is a former journalist at Smart Company.
Director Disqualification Directors often think there is an automatic director banning if one of their companies enters liquidation. But you’ll see from the prosecutions above that director disqualifications is one of the areas where ASIC is active.
ASIC is able to disqualify a person from managing a corporation for up to five years if the person has been an officer of two or more companies that have entered liquidation within the previous seven years. Whereas ASIC looks for “blood”, being offences, a liquidator looks for “money”.