Court Liquidation

A creditor can wind up the affairs of an insolvent company by way of an application to the Court. The most
common reason why a company is wound up by the court is because it has failed to comply with the
demands of a creditor.

Benefits:

• It provides a mechanism to creditors to wind up companies who have not paid their debts.

• The Court Liquidator takes possession and control of the company’s assets for the purpose of realising the maximum amount for creditors.
• The Court Liquidator investigates the company’s affairs to determine if there are any further assets to be realised or any recovery actions that may be commenced for voidable transactions such as unfair preferences, uncommercial transactions, unreasonable director related transactions and insolvent trading.

Jones Partners is able to provide specialised assistance during the recovery process and are qualified to act as Court Liquidators to companies with unpaid debts.