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Last 20 companies going into liquidation
|COMPANY||CODE||DATE OF LIQUID||NOTICE|
|ECHOICE LIMITED||ECO||23 May 18||Timothy Cook of Balance Insolvency is appointed liquidator|
|S2NET LIMITED||14 Mar 18||David Joseph Levi appointed liquidator - he will declare a first and final dividend on 31 July 2018|
|PREMIERE EASTERN ENERGY LIMITED||PEZ||17 Jan 18||Martin Jones and Wayne Rushton are appointed as joint & several liquidators of the company pursuant to an order of the Supreme Court of Western Australia. The Liquidators are conducting an immediate assessment of the Company's operations and financial position. This includes but is not limited to an assessment of the Company's shareholdings in its subsidiaries, as well as strategies to preserve the value of its listed shell.|
|THE WATERBERG COAL COMPANY LIMITED||WCC||07 Dec 17||court appoints a liquidator|
|FIRESTONE ENERGY LIMITED||FSE||06 Dec 17||Bryan Hughes, Daniel Bredenkamp and Renee O'Driscoll are appointed liquidators by the court|
|PROSPERITY RESOURCES LIMITED||PSP||23 Nov 17||liquidators appointed on or about this date|
|PARAMOUNT MINING CORPORATION LTD||PCP||23 Nov 17||liquidator appointed on or about this date|
|ADVANCED ENERGY SYSTEMS LIMITED||AES||15 Nov 17||on or about this date the court appoints a liquidator - this company an absolute disaster from the outset|
|DELTA SBD LIMITED||DSB||21 Aug 17||On 18 August 2017, the creditors resolved to wind up the companies within the group. The current administrators were appointed to act as joint and several liquidators.|
|BRISCONNECTIONS UNIT TRUSTS||BCS||28 Jun 17||DOCA expires and the company (as responsible entity for the trusts) is placed into liquidation - there is unlikely to be a return to unitholders|
|THO SERVICES LIMITED||THO||31 May 17||on or about this date, liquidators were appointed|
|DIPLOMA GROUP LIMITED||DGX||22 May 17||Justice McKerracher of the Federal Court of Australia has lifted an earlier stay on the appointment of David Hodgson and Andrew Hewitt, of Grant Thornton, as provisional liquidators to ASX-listed Diploma Group Limited (Receivers and Managers Appointed) (Administrators Appointed) and its subsidiaries following an application by ASIC.|
|CMA CORPORATION LIMITED||CMV||15 May 17||Paul Andrew Billingham of Grant Thornton appointed liquidator|
|COMPASS RESOURCES LIMITED||CMR||28 Oct 16||liquidator appointed|
|SINO-EXCEL ENERGY LIMITED||SLE||05 Oct 16||James Patrick Downey appointed Liquidator|
|AUSROC METALS LTD||ARK||23 Aug 16||Christopher Michael Williamson and David Ashley Norman Hurt of WA Insolvency Solutions, Level 10, 111 St George's Terrace, Western Australia were appointed official liquidators of the company on 23 August 2016 pursuant to an order of the supreme court of Western Australia.|
|MIRABELA NICKEL LIMITED||MBN||13 Jun 16||Martin Jones appointed liquidator|
|BLACK OAK MINERALS LIMITED||BOK||16 Mar 16||Notice is hereby given that Robert Hutson, Jarrod Villani and David Winterbottom of KordaMentha, were appointed Liquidators of the Company pursuant to Section 499 of the Corporations Act 2001 (â€˜the Act') at the Second Meeting of Creditors duly convened and held on 15 March 2016.|
|VOCATION LIMITED||VET||04 Jan 16||creditors resolve that Peter Gothard, Jim Sarantinos and George Georges of Ferrier Hodgson be appointed Liquidators of Vocation Limited and its associated entities|
Liquidation normally occurs when a company has failed and creditors resolve that it be wound up.
The company goes into liquidation when a registered liquidator is appointed to conduct the winding-up of a company and the liquidation of its assets. A liquidator is generally appointed on the grounds that the company is insolvent and there is no better way for creditors to maximise their return than from liquidating the assets.
Shareholders may place their company into voluntary liquidation, if, for example, they think it is going nowhere and they may as well sell off assets, discharge liabilities and get back the remainder. A liquidator can also be appointed by the court or a company can voluntarily place itself in liquidation or it can end up in liquidation after a vote of creditors. In the latter case it generally occurs because a viable arrangement is not possible during the course of a voluntary administration.
What is the liquidator's role?
The liquidator terminates company activities, collects and sells the assets and distributes the resulting funds to creditors in accordance with statutory priorities. One of his or her major tasks is to admit claims by creditors and then pay them according to priorities set out in the law.
In liquidation, no person can perform or exercise any function or power as an officer of the company other than with the liquidator's written approval, although this does not technically remove the directors from office. However, they are stripped of all their powers. Note that a company can also be in provisional liquidation, a sort of half-way house status, while enquires are made about the financial situation of the company pending liquidation, some other form of external administration, or returning the company to the control of the directors.
What does it mean to you as a shareholder?
Generally this is the worst possible outcome for shareholders. Rarely in circumstances where the company has failed, is there anything left over for distribution to shareholders.
Remember who your directors and executives were and resolve to avoid in future any companies they may be involved in.
Finding your company
If your company has been delisted or is suspended from quotation it may well be in liquidation. You can click on the link below to see a list of all companies in liquidation (for members only) or find a specific company that is in liquidation by:
If you are unable to find your company or the information is incomplete or incomprehensible we recommend you send us a message and we will try to assist.
Please bear in mind we are unable to help with private companies, public companies that have never been listed or with companies domiciled outside Australia or New Zealand. The Australian Securities and Investments Commission on 1300 300 630 or the NZ Companies Office on 0508 266 726 may be able to assist you with other companies.
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