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Facing financial challenges? You can trust our team of experienced and professional Australian liquidation experts. We’ll assess your situation with integrity and recommend the most affordable & suitable solution. With us, you gain a dedicated partner, ensuring your path forward is as smooth and stress-free as possible. Learn more about some of our liquidation services below.

Creditors Voluntary Liquidation

A creditors’ voluntary liquidation (also known as a CVL) occurs when the company’s members determine that the company can no longer satisfy its debts and is likely to become insolvent or is insolvent. If a business is unable to meet its liabilities, the company’s members must decide what action to take to maximise the return to creditors and avoid the possibility of insolvent trading. The aim of the administrator in this process is to sell the company’s assets and distribute the proceeds to creditors and shareholders, prior to the company being liquidated or ‘wound up’. SV Partners can assist businesses through this process as an independent party to ensure the process is conducted appropriately and in compliance with all relevant laws and governing bodies.


Members Voluntary Liquidation

A Members’ Voluntary Liquidation (MVL) is a process by which the assets of a company are able to be distributed to its creditors and members under the control of a liquidator. An MVL may also be used in the winding up of solvent associations and co-operatives, as the procedures set out in the Act are generally adopted by the various State Acts under which Associations and Co-Operatives are governed. An MVL can only be used when a company is solvent, i.e. able to pay its debts (including related entity debts such as shareholders’ loans) in full within 12 months of the commencement of the winding up.


Court Liquidation

A court liquidation (previously known as an Official Liquidation) occurs when a creditor/s make an application to Court to wind up a company due to non-payment of a debt. A creditor can resort to this process if they have exhausted all other avenues to obtain payment for outstanding debts. A court liquidation involves a liquidator being appointed to realise the company’s assets, investigate the company’s failure and disburse the funds to creditors according to priority. Once this occurs, the liquidator will apply to ASIC to deregister the company in order for the company to no longer exist. SV Partners, as qualified and skilled professionals, are able to administer a company throughout this process while remaining mindful of the impact on all stakeholders.


Simplified liquidation

A simplified liquidation (also known as a simple liquidation) is one of two new formal insolvency processes introduced by the Federal Government, in the wake of the COVID-19 pandemic (the other being the Small Business Restructure). This new process has been designed to reduce the cost and time involved in completing the liquidation process. SV Partners can assist with a Simplified Liquidation by act as the independent third party to ensure the process is conducted appropriately and according to all relevant laws.



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These are some of the most common questions we get asked, but if you have more questions, please get in touch and we will gladly help you.
Who are the Registered Liquidators?
As a Director, you speak to our team of Insolvency Practitioners and our Registered Liquidators by ASIC to get expert advice.

Our key members of staff include highly qualified Insolvency Practitioners, as well as Registered Administrators, Liquidators, and Receivers from Hall Chadwick. As specialists in addressing financial issues for companies large and small, we’ll be ready to help you with expert advice.

Our team has helped many companies that are in distress to turn their situation around (or to exit quickly and cleanly). But a good result comes down to taking action about your situation before it’s too late.

What is the cost of Liquidation?

The most commonly asked question by company directors and business owners considering company liquidation is “what is the cost of the liquidation process?”

  • Well it really depends on how the company is wound up.
  • An insolvent company may be wound up in two ways
  • First, a company’s shareholders can agree to select and appoint a liquidator of their choosing; Or
  • Unpaid creditors may apply to Court to wind up the company

Either way, when a company is insolvent and unable to pay its debts, a registered liquidator is required to act as an external administrator for the purpose of the winding up.

What is the Process of Liquidation?


  • Liquidation Appointment Documents – Director and Shareholders sign and a Registered Liquidator Appointed
  • Liquidator to lodge documents with the Australian Securities and Investments Commission to commence the liquidation.
  • Liquidator to issue letters to all stakeholders of a company informing them of the appointment.
  • Director to fill in and return a Report on Company Activities and Property and deliver all books and records.

Work Required:

  • Liquidator to issue an Initial Report to Creditors within 10 business days after the date of their appointment as a liquidator.
  • Liquidator to issue a Statutory Report to Creditors within 3 months after the date of their appointment as a liquidator.
  • Liquidator to lodge returns with the Australian Taxation Office for transactions entered into by the company.
  • Liquidator to realise all available assets of the company.
  • Liquidator to undertake investigations into the affairs of the company.
  • Liquidator to lodge a Report under Section 533 of the Corporations Act 2001 with the Australian Securities and Investments


  • Liquidator to declare a dividend if there are sufficient funds available.
  • Liquidator to obtain clearance from the Australian Securities and Investments Commission to finalise the liquidation.
  • Liquidator to issue a Final Report to Creditors, Lodge final tax return with ASIC and write to the director and the Australian
  • Taxation Office informing them of the finalisation of the liquidation.
Will I be personally liable? – DPN
In short, yes a Director can become personally liable for a Directors Penalty Notice. A DPN is in regard to outstanding Pay As You Go or Superannuation Guarantee Charge debts. The ATO can send out a DPN which gives a Director 21 days to take certain actions to avoid personal liability. The 21 day period starts from the date of the DPN notice. So to be clear, it does not run from the date you receive it.

You should seek advice within the 21-day period If you have received a Director Penalty Notice. A failure to do so can result in the ATO pursuing that Director personally for the company tax debt. The ATO has a range of options including a Garnishee Notice against the Directors’ personal bank accounts – ultimately resulting in Bankruptcy.

Will my credit rating be affected if I Liquidate?
One way a director can be impacted by the liquidation process is – how it affects their credit history. While the process is different from a personal bankruptcy, which will remain on your credit report for up to five years, as a company director you are able to separate yourself from the organisation to a certain extent.
In the case of a creditors voluntary liquidation this will show up on the records of credit reporting agencies, though it may not necessarily affect your credit.

Each credit provider has lending criteria they use to base their decisions. Credit reporting agencies don’t make decisions or recommendations. Some institutions may also use a rating/score with the file and lending criteria when they are assessing an application.

Your credit rating should not be a hindrance from deciding whether to put your company into liquidation. There can be far more dire consequences if you choose not to do anything.

What is the difference between Voluntary Administration and Liquidation?
The simple difference is Voluntary Administration is intended to save or sell a viable business, where Liquidation is designed to close a company with a business that is not viable.

We find it quite common for Directors to enquire about putting their company into Voluntary Administration, when a Liquidation is a better fit.



If you find yourself in a situation where you need financial advice
for your business, let us help you.