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.…

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…

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…

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…