Скачать или смотреть What Are the Roles of the Court and Directors in a Court-Ordered Liquidation?

In court-ordered liquidation in Australia, the court and company directors play very different roles.

⚖️ The Court’s role:

Decides if winding up is necessary and issues the liquidation order

Appoints the liquidator to take control of the company

Provides directions and oversight if disputes or investigations arise

Ensures fairness for creditors, directors, and the public interest

⚖️ The Directors’ role:

Lose all management powers once liquidation starts

Must hand over books, records, and company assets to the liquidator

Complete disclosures such as the ROCAP and answer questions

Must not obstruct the liquidator; obstruction can lead to personal liability or penalties

👉 Clear separation of roles ensures the process is transparent and fair. The Insolvency Group helps directors, creditors, and stakeholders navigate these obligations.

📌 Learn more at https://insolvencygroup.com.au

#courtorderedliquidation #DirectorsDuties #insolvencyhelp #debtsolutions #shorts #companyliquidation #companydirectors