Menzies Advisory assesses each situation on its own merits. In some cases, it is possible for the recovery of the company’s assets to cover the cost of the liquidation or administration. In other situations, it may be necessary for the director or any other nominated party to contribute to the costs of the liquidation or administration process.
If your company is solvent, the costs for that type of liquidation start at $3,000 plus GST and disbursements.
If your company is insolvent, this will cost more. A simple insolvent liquidation starts at $5,000 plus GST and disbursements.
If the best alternative is for your company to appoint a Voluntary Administrator, the eventual cost here will depend on the nature of the appointment and whether the director is proposing a Deed of Company Arrangement. It is not possible to quote a standard figure for these types of external administration as each situation has its own unique characteristics which are impossible to quote on realistically.
Menzies Advisory does not charge you for the first, second or any consultation prior to any subsequent external administration unless specific pre insolvency reports are required by the client. We are able to assess your financial position and advise on future alternatives without it costing you anything. Our procedures are such that these consultations will not affect our independence to be externally appointed to your company later on in the process.