Simplified Liquidation
Form number: Simplified Liquidation Election
A streamlined version of Creditors Voluntary Liquidation introduced January 2021 for smaller insolvent companies. Available where total liabilities are under $1 million, no related entity has used it in 7 years, and the directors have been compliant. Reduces liquidator investigations, cuts cost, and speeds up the wind-up.
Official source
asic.gov.auRelated topics
simplified liquidationasicsmall companyliabilities under 1mstreamlined wind upcompany wind upclose down businessinsolvent companycreditors voluntary liquidationcvlcompany insolvencyshut down companybusiness closureliquidate companysmall business insolvencycompany deregistrationcompanybankruptcy
Related forms
- ASIC Form 484 — Notification of Company ChangesForm 484
- ASIC Form 6010 — Voluntary Deregistration of a CompanyForm 6010
- ASIC Form 524 — Presentation of Accounts and Statement (Winding Up)Form 524
- Members Voluntary Liquidation (MVL)Form 520 / Form 205
- Creditors Voluntary Liquidation (CVL)Form 205 / Form 509
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