ACCOTAX - Accountants & Tax Consultants
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J C Accounting Ltd
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Additions Accountancy
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FLEXIE ACCOUNTANTS LTD
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HHR ACCOUNTANCY LTD
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Mind Your Assets Accounts
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Accounting 4 Ltd
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T.Y.E BOOKKEEPING LTD
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Matrix Accountancy Services
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Matrix Accountancy Services Limited
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Frequently asked questions
What are the duties of a company liquidator in Northland?
A company liquidator in Northland has a legal duty to act in the best interests of creditors and shareholders. Their duties include taking control of company assets, investigating the company's affairs, realising assets, paying valid claims in the statutory order, and reporting any potential offences to the relevant authorities. They must also ensure compliance with the Companies Act 1993 and keep accurate records.
How long does a company liquidation take in Northland?
The duration of a liquidation in Northland varies depending on the complexity of the company's affairs. A simple solvent liquidation may be completed within 3 to 6 months, while an insolvent liquidation with many creditors or legal disputes can take 12 months or more. Our liquidators work efficiently to resolve matters as quickly as possible while ensuring all legal requirements are met.
Can a director apply for voluntary liquidation in Northland?
Yes, directors can apply for voluntary liquidation if the company is solvent and shareholders pass a special resolution (75% majority) to appoint a liquidator. If the company is insolvent, creditors may also initiate a creditors' voluntary liquidation. Our team can guide you through the correct process and prepare all necessary documentation.
What is the difference between solvent and insolvent liquidation?
Solvent liquidation occurs when a company can pay all its debts in full and is being closed for other reasons, such as restructuring or retirement. Insolvent liquidation occurs when the company cannot pay its debts as they fall due, and the liquidator must sell assets to distribute funds to creditors according to legal priority. Both processes are handled by licensed liquidators.
Do employees get paid before other creditors in a Northland liquidation?
Yes, under New Zealand law, employee entitlements such as wages, holiday pay, and redundancy compensation are given priority over unsecured creditors. However, they are paid after secured creditors with valid security interests. The liquidator ensures that employee claims are calculated correctly and paid from available funds in the statutory order.
How much does it cost to appoint a company liquidator in Northland?
The cost of liquidation in Northland depends on the size and complexity of the company. For a simple solvent liquidation, fees may start from around $3,000 plus GST. Insolvent liquidations often involve more work and higher fees, which are paid from the company's assets. We provide a clear fee estimate before you appoint us, with no hidden charges.
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