Winding up a company means to end all business affairs in order to permanently close a company. This process involves many things, such as selling off stock, distributing the remaining assets, and paying off any outstanding debts. Liquidation, in commercial terms it means cash, converting assets to cash, usually in order to pay back debts or shareholders. A liquidator is a professional (usually an accountant or lawyer) who manages this. Certified liquidators are registered with ASIC. Winding up and liquidation both signify the end of a company. While winding up is the broader process of concluding all business affairs, liquidation is a necessary part of this process which sells off the company’s assets. If you have further questions in relation to winding up your company, it may be worth getting in touch with a commercial lawyer.

Sruthy Santhosh

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