An IP will sell any company assets, pay company creditors, deal with the affairs of your company and then close your company.
Shareholder vote is coming up and is likely to be in favor of liquidation. This article is not meant to be a complete analysis but a starting point. (OTC: BHOR) is a REIT that has frustrated investors for years due to underperformance and high fees.
If a liquidator suspects that people involved with the company may have committed offences and the liquidator reports this to ASIC, the liquidator may also be able to apply to ASIC for funding under the Assetless Administration Fund to carry out a further investigation into the allegations.
A liquidator may call a creditors’ meeting from time to time to inform creditors of the progress of the liquidation, to find out their wishes on a particular matter or seek approval of the liquidator’s fees.
The three types of liquidation are: A creditors' voluntary liquidation is a liquidation initiated by the company.
Creditors' meetings during liquidation Voting at a creditors’ meeting How will I get paid in a liquidation? It involves realising the company’s assets, cessation or sale of its operations, distributing the proceeds of realisation among its creditors and distributing any surplus among its shareholders.