CrossRoads Insolvency

If a company operates while being insolvent and ultimately faces liquidation or bankruptcy, the directors can be personally liable for repayment. Therefore, the most common reasons for a company to enter liquidation or bankruptcy are insolvency: The company's financial statements show consecutive losses. The company experiences cash flow problems. Directors or shareholders need to continuously inject personal funds to maintain operations. Creditors have hired lawyers to demand payment. The company has not kept proper accounts for an extended period, leading to the directors losing control over the company's financial situation. The company has not filed tax returns or paid taxes for a long time, resulting in repeated demands from the tax office. The tax office has issued warnings or garnishee notices. The company has entered into payment arrangements with the tax office or other creditors. The company has long-standing unpaid superannuation for employees. Suppliers have stopped offering credit or completely ceased deliveries. Services Offered: Free Director and Creditor Consultation All Types of Liquidation Voluntary Administration Deed of Company Arrangement (Company Debt Restructuring) Receivership Company Turnaround and Restructuring Personal Bankruptcy Court notice from lawyers for debt collection Director Penalty Notice - 21-day deadline Statutory Demand - 21-day deadline Winding Up Application filed by creditors to liquidate the indebted company Garnishee Notice Bankruptcy Notice Ultimatum from landlords