01 Dec
For businesses of all types, it is essential to learn the difference between compulsory and voluntary liquidation. While both types are insolvency proceedings, they have separate implications for your business. What is the liquidation process? Liquidation is an insolvency process where all the insolvent company’s assets are sold so that creditors will receive the proceeds. At the end of the liquidation, the company will be dissolved. Also, there will be an investigation into the director’s conduct and for possible fraudulent activity. What are the types of voluntary liquidation? As previously mentioned, the two main types of liquidation are compulsory and voluntary. There is also company…
15 Sep
Operating a business through a limited company offers various benefits compared to running one as a sole proprietor, including the ability to avoid personal liability for your company’s trading debts. This means that you can protect your personal assets if the business fails. If you and your company are unable to pay the debts, then…
24 Aug
Nobody goes into a business expecting it to fail. Many businesses do not even plan for failure due to unforeseen circumstances. So if you do find yourself in a situation where you need to permanently liquidate your business, where do you start? Admitting failure is hard enough, but how do you take the next step…
01 Jul
There comes a time when certain companies may need to recover certain assets, which may be easier said than done. Fortunately, most companies in Toronto will have a few options at their disposal to recover their assets, including auction sales and liquidation. However, some companies may be confused about the differences between auction sales and…
22 Jun
If you are selling items on auction sites, such as eBay, then you may be having trouble making a decent profit given the fact that you have thousands, if not millions, of other sellers to compete with daily. Moreover, many single items are also frequently sold at prices that are comparable to wholesale prices, so…
