members voluntary liquidation

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Meat Wholesale Business In Voluntary Administration

Not all businesses are forced to enter administration. Some enter voluntarily, knowing that their business is insolvent and seeking the best resolution for themselves and their creditors. Melrose Wholesale Meats entered voluntary administration in August 2019, revealing debts of approximately $5.2 million. Menzies Advisory has been appointed to the case and is working with the […]

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Who Knew What Within Queensland One Homes?

Queensland One Homes

The wife of the director of Q1 Homes appeared in court in October 2019, claiming not to know anything about the hundreds of thousands of dollars moving through a joint account shortly before the building company collapsed in July 2019. As registered liquidators who are responsible for resolving outstanding debts, it is important for Menzies […]

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New Revelations In The Q1 Homes Collapse Case

Q1 Homes Collapse

Menzies Advisory continues in the Federal Court in Brisbane in the case of Queensland One Homes. As the story unfolds in relation to the water damaged servers which held important financial information, Michael Caspaney, our Principal Registered Liquidator, recalls how he discussed the issue with the creditors earlier in the year. Without the complete financial […]

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How A Business Goes From Thriving To Liquidation

How A Business Goes From Thriving To Liquidation

Menzies Advisory works alongside various stakeholders including business owners, accountants and lawyers. When a company collapses a Liquidator is often appointed to guide everyone through the wind up process. Since 2017, Mr Michael Caspaney of Menzies Advisory has been appointed Liquidator of Queensland One Homes Pty Ltd (In Liquidation) when it was placed into liquidation […]

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Q1 Homes quizzed on reliance of ‘future work’

Q1 Homes quizzed on reliance of ‘future work’

When companies collapse, there are often investigations into their recent finances to understand what happened to lead to their insolvency. On October 1st, Queensland One Homes was under scrutiny in Brisbane’s Federal Court, which collapsed in 2017 with over $5.8 million in debt. Menzies Advisory has been working with Q1 Homes since 2017 as their […]

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Menzies Advisory Appointed Special Purpose Liquidator After Construction Company Collapses

Special Purpose Liquidator

Creditors are often left out of pocket when companies collapse, especially large ones. National Australian Bank is now being sued by many creditors for $74 after the collapse of a large construction company, Walton Construction. Michael Caspaney, of Menzies Advisory, is the Special Purpose Liquidator who has been appointed to look into the relationship between […]

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Company Liquidation Leads To Unpaid Employee Wages

Company Liquidation Leads To Unpaid Employee Wages

When a company goes into liquidation, employees are often left without their hard-earned wages. But the Australian government has a guarantee in place to cover these funds when Australian businesses can no longer pay their dues. Menzies Advisory was brought in to assess the stores which were owned by Doughnut Time and identify whether or […]

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Is Liquidation Your Only Option?

voluntary administration

Is your company operating at a loss? Are you heading for insolvency and unsure what to do to turn your business around and make it profitable again? Before you enter voluntary administrative or liquidation measures, there may still be a chance to save your company. A comprehensive corporate evaluation by the expert accountants and liquidators […]

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What is a Director Penalty Notice

specialist liquidator

The Australian Tax Office (ATO) is able to send a Director Penalty Notice to a company director which makes the director personally liable for two company tax debt types. Company directors can become liable for Pay As You Go tax (PAYG) and Superannuation Guarantee Charges (SGC) through a Director Penalty Notice. This article offers directors […]

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The Impact of Legal Trouble on Solvency

to liquidate a company

Some companies become insolvent due to poor business plans, a decline in market demand or bad management. Other companies may find themselves in legal difficulties which consume vital cash flow and lead to a company being unable to pay their debts and subsequently being forced into external administration. If your company finds itself embroiled in […]

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Benefits of External Administration

insolvency and bankruptcy

Sometimes shareholders and company directors decide to cease trading despite the continued viability of the company. When this decision has been made, it is best to bring in external administrators to complete the Members’ Voluntary Liquidation process. By hiring qualified and experienced professionals, the process of finalising all company affairs, deregistering your company and the […]

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Registered Liquidator Explained

certified practising accountant

Registered Liquidators are experienced accountants, licenced and regulated by the Australian Securities and Investments Commission (ASIC). They are appointed to take over the running of insolvent or failed companies and oversee the final period before all affairs are finalised and the trading body is dissolved. Registered Liquidators must be appointed in the event of a […]

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