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Liquidating a company in sydney

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Sydney mother-of-four Elizabeth Scuteri said she was asked by the company as recently as last week to pay a ,800 premium for home owner's warranty insurance.

Ms Scuteri said Huxley Homes had filled out application forms to take out the insurance, but the forms were never lodged.

Customers of the New South Wales subsidiary of federal senator Bob Day's collapsed building company Home Australia, say they suspect the building empire was in financial trouble for months before its demise.

Senator Day has blamed Huxley Homes, the NSW arm of Home Australia, for the woes that forced the building empire into liquidation.

For the person who does not want the company it is the only way to rid yourself of the company if a strike off application is not an option.

If you have a dispute with your partner in the company and there is a deadlock but the company is still solvent a members voluntary liquidation will break the deadlock. You can bid for it or it can be sold publicly and the net proceeds split between the partners.

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The builder is not supposed to accept a 5 per cent deposit on a build until the insurance certificate is provided to the client.

Our team of highly experienced Insolvency Lawyers provides legal advice and services for all aspects of insolvency and corporate restructuring.

We understand that when your company or business is facing a financial crisis, the situation can often feel overwhelming, which is why we strive to take the stress out of insolvency and help our clients resolve all related matters as quickly as possible.

You might purchase liquidated stock from a company about to go into company liquidation, the surplus stock might be faulty and guess what, you are now stuck with this obsolete inventory. If it is possible, personally inspect the obsolete inventory to make sure it meets your stringent quality specifications.

So how do you mitigate against this particular risk? If it’s not possible to inspect the stock, you should ask for a significant discount to reduce your risk of making a bad decision.