Confidential Client – Members Voluntary Liquidation
Appointed as liquidator to two related solvent companies at general meetings of the companies to wind up their businesses and distribute excess proceeds to shareholders. By working closely with our Business Advisory team and our Tax Services team we were able to distribute $8.5 million to the companies’ shareholders in the most economical and tax effective manner, providing tax savings of over $2 million.
Confidential Client – Members Voluntary Liquidation
We were approached to take the appointment as Members Voluntary Liquidation to the family investment vehicle of a high-profile couple that were going through a contentious and acrimonious divorce, involving regular appearances before the Family Court.
Australian Vanlines Pty Ltd – Court Liquidation
Appointed Court Liquidator following an application by the Australian Taxation OfficeATO for the winding up of Australian Vanlines Pty Limited, a company in the shipping and storage industry. Through our investigations, we identified and located over 250 private owners’ shipping containers across Sydney. A first and final dividend was paid to unsecured creditors from net asset realisations and net recoveries from voidable transactions.
Fast Access Finance Pty Ltd – Court Liquidation
Appointed Court Liquidator following an application by the Australian Securities and Investments Commission ASIC for the winding up of Fast Access Finance Pty Ltd, a payday lender which the Federal Court ruled had breached consumer credit laws by engaging in credit activities without holding an Australian credit licence.
Office Furniture Trade Centre Pty Ltd – Creditors Voluntary Liquidation
Appointed as Voluntary Liquidators of Office Furniture Trade Centre Pty Ltd, a furniture retailer with operations in the Gold Coast region. We successfully realised all the company’s stock, plant and equipment together with a luxury residential investment property which was owned by the company resulting in a significant return to the secured creditor, a major bank which had elected not to appoint a receiver and manager and left us in control of the company. Employees were able to access the Fair Entitlements Guarantee Scheme, resulting in their entitlements being paid in full.
Rockwell Olivier (Sydney) Pty Ltd – Creditors Voluntary Liquidation
Appointed as voluntary liquidators to Rockwell Olivier (Sydney), a Sydney based law firm. We worked with the Law Society of NSW to ensure the client files and the trust accounts were properly managed. We negotiated the sales of the legal practice to the former partners of the firm, including the transfer of most of the staff to the new legal practices established by the former partners.