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  • Why you might need us

    You’re in uncharted waters

    Like many businesses facing challenges in 2020, you’ve done everything you can. Don’t give up. We’ll help get you back on course.

    Things have changed

    You’ve worked hard to grow your business, but right now, the numbers look impossible. Find out how to adapt and come out stronger.

    You need expert advice fast

    You’re looking for a trusted partner to guide you through options so you can overcome financial hurdles. We won’t give up until we find your way forward.

    About your recovery partner

    Liquidators registered by ASIC.

    ARITA Professional members.

    CA & CPA qualified accountants.

    40+ staff nationwide

    AFR top 100 accounting firm 2017, 2018, 2019, 2020.

    What is Business Liquidation?

    Sometimes the best option is to close your business. If we assess your company as no longer viable, we’ll guide you through the business liquidation process, from selling off assets to pay your creditors to winding up the company to minimise losses. Taking action early will give owners and employees the opportunity to move forward as soon as possible.
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    Types of Business Liquidation
    There are numerous ways to approach, and progress, through Insolvency. Find out below how our expertise can help.

    In Creditors’ Voluntary Liquidation (CVL), our ASIC registered liquidators can ease the process on the role of Company Liquidator. Dealing with the formalities of convening shareholders and facilitating a procedure in which the company is placed into Liquidation. Helping to relieve stress at every stage.

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    If your company is insolvent and total liabilities do not exceed $1 million, you may be eligible for Simplified Liquidation. A more streamlined version of CVL, we’ll work with you to close your business the right way, with clarity and understanding.

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    Eliminate the communication hurdle involved with dissolving a company through a MVL. ADS will conduct a review, liquidate your company and distribute any assets to the relevant parties.

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    A Provisional Liquidator can help save your company. Appoint us to take control while an issue is being resolved, prevent any further damage from occurring, and protect the longevity of the company.

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    Creditors Voluntary Liquidation Process Outline
    Here’s how we work with you to meet your unique needs. The sooner we get started, the better your chances of success.
    1
    Liquidation appointment documents signed by director and shareholders

    2
    Registered liquidator appointed

    3
    1st Report to Creditors

    4
    1st Meeting of Creditors

    5
    Liquidator request further information from Director

    6
    Liquidator works through investigation of the company

    FAQs

    Liquidation takes place when an organisation is unable to pay its debts and when members of a company decide they want to end the business operations. The liquidation process involves sorting out financial affairs, and dismantling the company’s structure.
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    There are several types of liquidation and the options differ from company to company, and from individual to individual. In relation to corporate insolvency, the most common procedures are liquidation, voluntary administration, and receivership. For individuals, bankruptcy and personal insolvency agreements are the most viable options.
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    The process of liquidation takes as long as necessary - there is no set time. Liquidators must complete the task in a cost-effective and timely manner.
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    “A pleasure to work with, efficient and proactive in their approach to all tasks. Transparent with information and very honest each step of the process, with no surprises at the end. I would highly recommend Mackay Goodwin to friends, family and colleagues.”

    “[They provide] communication with where everything is at, only do the work that needs to be done and don’t run up costs.”

    Our people

    We’ve helped many business owners through tough times over the years. We’ll do the same for you, too.

    Domenic Calabretta

    Chief Executive Officer

    Sydney

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    Grahame Ward

    Director

    Sydney

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    Mitchell Ball

    Director

    Sydney

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    Thyge Trafford-Jones

    Director

    Sydney

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    Domenic Calabretta

    Chief Executive Officer

    Sydney

    Domenic is regarded as one of Australia’s leading restructuring experts with having the most number of appointments in 2017 in the insolvency industry. Domenic has significant experience across all facets of business turnaround, restructuring and administration. Being both an accountant and lawyer, he is considered a disruptor of the industry, having being involved in case law that has changed and improved the playing field of corporate insolvency. Of his impressive career to date, the biggest highlights for Domenic are the businesses that he has helped to save. Domenic is constantly appointed across all industries over companies ranging from small to medium businesses to multinationals. No engagement for Domenic is too small or too big.

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    Grahame Ward

    Director

    Sydney

    Grahame is also regarded as one of Australia’s leading restructuring experts. He has significant experience across all facets of business turnaround, restructuring and administration. He has focused on commercial outcomes and communications with key stakeholders in transitioning various companies through the Voluntary Administration and Deeds of Company Arrangement process for over 20 years. This is in numerous industry segments across Australia. He has also undertaken matters involving overseas operations. When a Deed of Company Arrangement is unsuitable and or unable to be completed he strategically identifies practical alternative courses of action.

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    Mitchell Ball

    Director

    Sydney

    Mitchell has 20 years’ experience in corporate insolvency and restructure. Mitchell is a Registered Liquidator having working on many types of corporate appointments. He has managed complex liquidations and voluntary administrations in numerous industries with expertise in property, finance, manufacturing, IT and building and constructions. Mitchell brings value to appointments from start to finish, from marketing and having initial contact with clients to achieving exceptional outcomes.

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    Case Studies

    Security Company Case Study

    An 85% reduction in debt gets company through a major trading and cash flow problem. An electronic security company in Brisbane with clients ranging from small boutiques to international mega-corporations within Australia was experiencing difficulty with their cash flow, so Mackay Goodwin stepped in to help.

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    Building Developer Case Study

    This South Australian builder continues to trade, thanks to a DOCA, restructure and dispute resolution. When an Adelaide building development company found itself in a lengthy and protracted legal dispute over a costly project, it found itself unable to trade out of the heavy losses it had incurred as a result of the deal.

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    Earth Moving Company Case Study

    75% reduction in tax debt gets this earthmoving company moving again. By the time a Melbourne-based earthmoving company contacted Mackay Goodwin over reducing their accrued debt, they had built up a $280,000 backlog with the Australian Taxation Office (ATO).

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