A genuine care for business owners who need advice about company liquidations
We can help you navigate the correct legal procedure and ensure you reach the best outcome.
We specialize in guiding businesses through the liquidation process with ease and efficiency. From asset valuation to settling debts, our team ensures a smooth transition, handling all legal and financial aspects.
You have a choice. Before its too late, you can request an assesment, an honest one!
15 years of working with small to medium businesses
0211246689
Discover the three key stages of liquidation, from assessing and selling assets to settling debts and completing the legal requirements for final business closure.
In this phase, Liquidators evaluate company's financial situation. List all assets and liabilities and prepare necessary documents. Notifying creditors, valuing assets and making decision on how to distribute them.
During this phase, the company's assets are sold do generate cash. the money is used to pay poff debts, starting with secured creditors then onto unsecured creditors, employees and remaining stakeholders.
This phase involves completing legal requirements such as filling in necessary paperwork with regulatory bodies, disolving the company an densuring all legal obligations are met. After this, the business is officially closed.
A company might liquidate as a a part of planned restructuring where assest are sold to reorganise or merge with another company or entity.
Often businesses change direction and the need or purpose for the comapny has declined.
Legal problems, regulatory violations, and or non complience with laws may force a company into liquidation to avoid futher penalties or liabilities.
When a company can no longer pay its debts as the fall due, Liquidation is often the final step to settle with creditors and close down the business.
Numbers of company incorporations, removals and insolvencies — monthly, quarterly and annual statistics
Comprehensive Guide to the Liquidation Process: The Companies Office’s Detailed Overview for Business Owners and Stakeholders
You can be banned (‘prohibited’ or ‘disqualified’) from being a company director if we establish that you have mismanaged your company. You can also be banned if you’re convicted of certain offences.
Stay Informed with the Latest Updates from the Ministry of Business, Innovation, and Employment (MBIE) on X
Understanding Liquidations before flicking the switch can be daunting. We have some FAQ'S that may help guide you to the next appropriate step.
Company liquidation is the process of closing down a business and distributing its assets to pay off creditors. It usually occurs when a company cannot pay its debts and is no longer viable. During liquidation, a liquidator is appointed to assess, sell, and distribute the company’s assets to settle outstanding debts. Here's an overview of how it works:
Liquidation is a complex process, often handled by professional liquidators, to ensure legal compliance and fair debt repayment.
A company should consider liquidation when it becomes insolvent and can no longer pay its debts. Other indicators may include ongoing losses, inability to secure new financing, or shareholders deciding to close the business. Consulting with financial advisors or a liquidation specialist can help determine if liquidation is the best option.
There are two main types of liquidation: voluntary and compulsory. Voluntary liquidation occurs when shareholders or directors decide to liquidate, either because the company is solvent (Members' Voluntary Liquidation) or insolvent (Creditors' Voluntary Liquidation). Compulsory liquidation is mandated by a court, typically due to a creditor's petition.
In liquidation, secured creditors, such as banks with collateral, are paid first. Next, priority is given to preferential creditors, like employees owed wages. Unsecured creditors, such as suppliers, are paid afterward if funds remain. Shareholders receive any residual funds only if all creditors are fully paid.
Employees may be made redundant when a company is liquidated. In some cases, employees are entitled to redundancy payments, unpaid wages, and holiday pay, which are given priority in the liquidation process. The liquidator handles these payments based on available funds.
The duration of liquidation varies, typically ranging from a few months to several years, depending on factors such as the complexity of the company’s assets, legal issues, and creditor claims. The liquidator's goal is to complete the process efficiently while maximizing returns for creditors.
David Thomas is a highly respected licensed liquidator who is deeply committed to supporting business owners through challenging times. With a strong belief that small and medium enterprises are the backbone of New Zealand's economy, David approaches each case with empathy and understanding. He recognizes the hard work and resilience required to run a business and strives to provide owners with the guidance and support they need, ensuring a fair and respectful liquidation process. David’s approach goes beyond numbers—he’s here to help owners navigate their options, preserve value, and lay the groundwork for a fresh start.
Licenced Liquidator
I would like to share about this incredible man. Straight shooter, honest, practical, experienced. His heart is huge and his desire is great. Always busy helping people to move on to a great life.
Auckland
Thank you for everything David, I love you for holding my hand for so long. You were and are an amazing accountant, man and friend.
Tauranga
You use the word 'care' several times over in your website. While it would be easy just to discount them as words, your deeds prove it true. You are one of the good guys Dave....
Tauranga
I can't recommend Dave's services and expertise enough to aid you in this difficult situation. He is an extremely professional guy but at the same time shows great empathy for the person in the situation at hand. He explained everything to me fully, the options i had and was always on the other end of the phone when I needed him to answer the numerous questions I had. He made quite a traumatic time go smoothly and has always kept me informed and in the loop. I really can't thank him or recommend him enough!.
Auckland
