Despite the negative stigma surrounding corporate insolvency, it’s not an uncommon occurrence and can be handled effectively by the right experts.
The experts at CRS Insolvency Services can make a thorough corporate insolvency assessment to determine whether voluntary liquidation is necessary for your company. A professional, independent insolvency assessment is a crucial step, as many directors can find themselves blinded by their financial pressures and unable to see the situation for what it is. There is a risk of finding yourself in even deeper waters if you continue to trade whilst your company is insolvent.
After the corporate insolvency assessment is completed and it is established that your company is in fact insolvent, the next step is to decide on the type of liquidation. You can choose either a Voluntary Liquidation (which is initiated by the directors and shareholders) or Court Liquidation (which would involve waiting until a creditor makes an application with the Court).
Many directors find that choosing to place their insolvent company into liquidation is like the release of a pressure valve. Once the insolvent company is liquidated, a director is free to move on with his/her life after a long, stressful battle with corporate insolvency. All enquiries are automatically directed to the liquidator, who becomes the sole point of contact for the affected parties/creditors.
If you are facing corporate insolvency,it is easy to make the mistake of placing your difficult situation into the wrong hands. Our team at CRS Insolvency Services is equipped with the expertise, knowledge and experience to help you make the right decisions in recognising and dealing with a business under financial stress.
If you are struggling with company insolvency and have spoken to other registered liquidators, call us before making your decision. You will have peace of mind knowing that CRS Insolvency Services will handle your company’s insolvency case with ease and sensitivity and will continue to manage it from the beginning through to completion.
We are always available for advice by way of a free company insolvency hotline. Call CRS Insolvency Services today at 1800 731 155 and help your struggling company take its next steps.