Liquidations and Strike Offs for Your Organization
Inclement entrepreneurial scenarios, lack of relevance, or immediate requirement of funds might abruptly end the organizational lifecycle. Incidentally, closing down a company isn’t a straightforward process and involves administrative, financial, and legal aspects. At IMC, we can help you dissolve the firm in the best possible manner and in accordance with the regulatory guidelines.
Besides financial constraints and change in priorities, there can be several reasons for a planned dissolution. For instance, if your company is experiencing structural changes at the top or doesn’t need to function once the concerned merger or acquisition is over, liquidation and strike off are the probable options for shutting shop.
Striking off the firm means that the company will be reregistered from the ACRA database whereas liquidation of assets mean the before closing down, the entities are used to pay off the creditors. Companies might dissolve on purpose or can end up closing doors in case of dormancy, bankruptcy, cessation, and insolvency.
At IMC, we take all the reasons and aspects of dissolution into account and strategize your exit plan. We understand that all companies aren’t structured alike. Therefore, we look at the financial arrangements, obligations, debts, assets, number of creditors, and other aspects before suggesting the best pathway to the concerned firms.
Company dissolution requires experienced professionals to preside over and supervise the liquidations and strike offs. We make sure that the directors adhere to the region-specific guidelines and do not face penalties or punishments due to miscommunications.
We check for favorable strike off scenarios before recommending the same. IMC cross-checks the dormancy of the business and also makes sure that there aren’t any assets or associated liabilities on display while applying. IMC also checks for financial irregularities if any by coordinating with the region specific regulatory authorities.
We make sure the application is filed only when all the criteria are satisfied. Most importantly, our experienced professionals make sure that there aren’t any objections to the process.
In case of compulsory or voluntary wind-ups, IMC acts as the liquidator and prepares the strategy for selling off the assets. Our agents coordinate with the creditors and segregate the assets based on the debt settlement plan. In case of compulsory dissolution, we work as your allies and help you go through the process without any kind of embarrassment.
For voluntary dissolutions, we supervise all the financial aspects and plan out creditor repayments over the compulsory period of 12 months. At IMC, we guide you from the start, including the applications to the eventual dissolution.
- Proper investigation into company assets and financial affairs
- Recovering company assets to suit the company requirements
- Resolving claims made by creditors
- Ensuring equitable asset distribution among shareholders
- Maintaining financial and regulatory compliance
- Preparing of final liquidation accounts
Our services are personalized and tailored according to the structure, asset distribution, and existing liabilities of the concerned business. We take pride in providing you with the peace of mind that is elusive during a document-intensive company dissolution process.