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Contact our Melbourne team

Level 16, 90 Collins Street,Melbourne, VIC 3000
1300 750 599.

About your recovery partner

  • Accountants Daily
    Finalists, Fastest
    Growing Firm
  • AFR Top lOO
    Accounting Firms
  • CA and CPA
    Qualified
    Accountants
  • National Team
  • ASIC Registered
    Liquidators
  • ARITA
    Professional
    Members

Experts in Key Moments

At Mackay Goodwin, we have a nationwide team ready to assist you. Our team of qualified professionals, including ASIC registered liquidators love to find solutions for people facing financial difficulties. With experts located across all major Australian cities, we’re ready to help you in any situation.

Why choose MG?

  • Innovation

    Finding new, better ways to achieve successful outcomes is inherent in our DNA. We’re continually looking to innovate through technology, and in our forward-thinking. It’s what empowers our team to stay two steps ahead, and deliver.

  • Focus

    We never take a ‘one size fits all’ approach. We appreciate that each of our clients has specific needs and goals, so we tailor our plans accordingly. Focused at every moment. Honing in on the task at hand, the end result, and the best way to achieve it.

  • Action-oriented

    Reaching goals doesn’t simply take action. It takes positive action. Never ones to sit still, we remain proactive at all times. Always thinking ahead, we anticipate needs and pre-empt issues before they arise. Putting our clients on the front foot, with us by their side.

  • Understanding

    We know what a difficult time this is. Not just on a business level, but on a personal one, too. So although we may work in finance, we appreciate that people are infinitely more than numbers. And we treat everyone as individuals with respect and understanding.

Corporate Liquidation

Whether voluntary or court-ordered, our expert team of ASIC registered liquidators ensure for a smooth process. We take the time to understand your situation. We listen to your business goals. And, administer a plan to overcome the financial challenges. Whether that being to exit and reset the company. We strive towards a smooth, time efficient and cost-effective liquidation process.

How do I know if it’s time to speak to a professional?

There is no time like the present to prepare for tomorrow. If you are experiencing one or more of the below indicators, get in contact with our restructuring experts today.

What are my other options?

Although liquidation is an important option that business owners should keep in mind, it isn’t the only option.
We will explore all options for your business. They may look like:

Liquidation FAQs

Liquidation is a suitable option to wind down the operations of a company in an orderly way. It ensures assets are appropriately and legally distributed, minimising the impact of insolvent trading.

It also gives shareholders, creditors, and directors the opportunity to have an independent expert investigate and manage the liquidation. Creditors understand that liquidation is a fair and legal option for an insolvent company to deal with its financial affairs.

Liquidation is a complicated legal and financial process, and it can take anywhere from 3 months to a year depending on the type of liquidation, the size of the company, the number of stakeholders, and more. A registered liquidator needs to be agreed on, the terms with creditors need to be negotiated, and the assets of the company need to be auctioned off.

If this sounds complicated and you’re not sure where to start with a business liquidation, you can always give us a call here at Mackay Goodwin. Our team will help you close the doors and wind up company’s affairs.

A wind-up notice is initiated by your creditors or the Tax Office to check the solvency of your company and take subsequent measures. It is a very serious document that requires business owners to act immediately.

Get in touch with us today for a free confidential consultation, and our team here at Mackay Goodwin will help you overcome your financial challenges.

A company’s assets are distributed to interested parties in the order of their priority and likelihood of receiving payment.

The order of who gets paid first in liquidation is as follows:

Secured creditors

A secured creditor is the first type of creditor to be paid in liquidation. A secured creditor refers to those who have an interest over the company’s assets (mortgage or charge).

A secured creditor also has the right to retrieve a receiver for those who default on their repayments. Engaging in an independent receiver results in the receiver selling some or all of the company’s assets to ensure the debt is repaid.

Priority creditors

Next to be paid are priority creditors (employees), those who have a legal priority during the liquidation.

Unsecured creditors

Unsecured creditors are the last to be paid during liquidation. An unsecured creditor are those who have no collateral over the company’s assets (trading partners, ATO etc). They may be able to retrieve funds in the form of dividends after secured and priority creditors are paid.

Meet the Melbourne Team

Tom Millard

Analyst

Melbourne

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Ramina Ahmed

Supervisor

Melbourne

Read More

Jack Michie

Senior Manager

Melbourne

Read More

Tom Millard

Analyst

Melbourne

Read More

Ramina Ahmed

Supervisor

Melbourne

Read More

Jack Michie

Senior Manager

Melbourne

Read More

Get in touch

Speak to one of our experts now for a free consultation.
Enter your details below or call 1300 750 599.

x

Get in touch

Speak to one of our experts now for a free consultation.
Enter your details below or call 1300 750 599.