Corporate insolvency & liquidation

back

Audit
Tax
Risk
Forensics
Deals
Finance and funding
Insolvency
Restructuring and turnaround
Business services
Consulting
Market services
Asia
Indigenous advisory

Audit

Grant Thornton’s expert audit approach will help you comply with regulations, and improve business strategies and internal processes. See Overview

Compliance audits & reviews
Our audit team undertakes the complete range of audits required of Australian accounting laws to help you to help you meet obligations or fulfil best practice procedures.
Audit quality
We are fiercely dedicated to quality, use proven and globally tested audit methodologies, and invest in technology and innovation.
Financial reporting advisory
Our financial reporting advisory team helps you understand changes in accounting standards, develop strategies and communicate with your stakeholders.
Audit advisory
Grant Thornton’s audit advisory team works alongside our clients, providing a full range of reviews and audits required of your business.

Related insights:

Technical Accounting Alert | TA 2023-5 What’s new for June 2023?

Owen Carew

| 3 min read | 15 May 2023

This TA Alert incorporates all the relevant pronouncements and developments as at 8 May 2023.

Tax

We work with clients at all stages of their business lifecycle – and through all their organisation’s major events – to navigate tax obligations. See Overview

Corporate tax & advisory
We provide comprehensive corporate tax and advisory service across the full spectrum of the corporate tax process.
Private business tax & advisory
We work with private businesses and their leaders on all their business tax and advisory needs.
Tax compliance
We work alongside clients to manage all tax compliance needs and identify potential compliance or tax risk issues.
Employment tax
We help clients understand and address their employment tax obligations to ensure compliance and optimal tax positioning for their business and employees.
International tax
We understand what it means to manage tax issues across multiple jurisdictions, and create effective strategies to address complex challenges.
GST, stamp duty & indirect tax
Our deep technical knowledge and practical experience means we can help you manage and minimise the impact of GST and indirect tax, like stamp duty.
Tax law
Our team – which includes tax lawyers – helps you understand and implement regulatory requirements for your business.
Innovation incentives
Our national team has extensive experience navigating all aspects of the government grants and research and development tax incentives.
Transfer pricing
Transfer pricing is one of the most challenging tax issues. We help clients with all their transfer pricing requirements.
Data transformation and analytics
We analyse high-volume and unstructured data from multiple sources from our clients to give them actionable insights for complex business problems.
Corporate simplification
We provide corporate simplification and managed wind-down advice to help streamline and further improve your business.

Related insights:

Insight Three potential scams to be aware of as we head into tax time

3 min read | 19 Jun 2023

June 30 is fast approaching, and with it comes tax scammers, the escalating cost of living means their activity is on the rise, we outline some scams for you to be aware of.

Risk

We work with clients to implement risk management processes and strategies to reduce risk and identify opportunity to extract commercial value. See Overview

Payroll consulting & Award compliance
Many organisations are grappling with a myriad of employee agreements and obligations, resulting in a wide variety of payments to their people.
Cyber resilience
The spectrum of cyber risks and threats is now so significant that simply addressing cybersecurity on its own isn’t enough.
Internal audit
We provide independent oversight and review of your organisation's control environments to manage key risks, inform good decision-making and improve performance.
Financial crime
Our team helps clients navigate and meet their obligations to mitigate crime as well as develop and implement their risk management strategies.
Consumer Data Right
Consumer Data Right (CDR) aims to provide Australians with more control over how their data is used and disclosed.
Risk management
We enable our clients to achieve their strategic objectives, fulfil their purpose and live their values supported by effective and appropriate risk management.
Controls assurance
In Australia, as with other developed economies, regulatory and market expectations regarding corporate transparency continue to increase.
Governance
Through fit for purpose governance we enable our clients to make the appropriate decisions on a timely basis.
Regulatory compliance
We enable our clients to navigate and meet their regulatory and compliance obligations.

Related insights:

Insight Update on the Modern Slavery Act Review

3 min read | 07 Jun 2023

With the introduction of the Modern Slavery Act in 2018, Australia became a leading jurisdiction in combating Modern Slavery, which is defined as the exploitation of workers where offenders use coercion, threats or deception to exploit employees, and undermine their freedom. The Act made provisions for a statutory review of the act, which commenced in 2022 and concluded with the release of the Report of the statutory review of the Modern Slavery Act 2018 (Cth) by the Attorney General's Department on 25 May 2023.

Forensics

Our forensics team identifies and obtains relevant information, investigates the financial issue at hand and provides a clear, concise, sustainable opinion as... See Overview

Forensic accounting and dispute advisory
Our team advises at all stages of a litigation dispute, taking an independent view while gathering and reviewing evidence and contributing to expert reports.
Investigations
Our licensed forensic investigators with domestic and international experience deliver high quality results in the jurisdictions in which you operate.
Digital forensics
Our digital forensic experts identify, preserve and analyse data in the context of reputation and regulatory enforcement issues for investigations, legal or administrative proceedings.
eDiscovery
In a data-driven economy, data enables commercial and economic growth, innovation, and social benefit.
Asset Tracing Investigations
Our team of specialist forensic accountants and investigators have extensive experience in tracing assets and the flow of funds.

Related insights:

Insight Uncovering hidden assets in family law disputes

2 min read | 15 May 2023

When there is commingling of assets, as often seen in family law or commercial disputes, it can become difficult to identify asset ownership and asset value. In these instances, asset tracing is used to determine the source of the asset and how the asset has been used prior, and in the course of the dispute.

Deals

Our team works with clients on all aspects of their deals and transactions to get the deal done and implement the frameworks for long-term success. See Overview

Mergers and acquisitions
Our mergers and acquisitions consultants guide you through the whole process to get the deal done and lay the groundwork for long-term success.
Acquisition search & strategy
We help clients identify, grade, screen, perform due diligence and execute acquisitions to maximise the growth opportunities of your business.
Divestments
Our divestment team works with clients across the entire divestment process to ensure achievement of strategic ambitions and optimal outcomes for stakeholders.
Operational deal services
Our operational deal services team helps to ensure the greatest possible outcome and value is gained through post merger integration or post acquisition integration.
Transaction advisory
Our transaction advisory services support our clients to make informed investment decisions through robust financial due diligence.
Business valuations
We use our expertise and unique and in-depth methodology to undertake business valuations to help clients meet strategic goals.
Tax in mergers & acquisition
We provide expert advice for all M&A taxation aspects to ensure you meet all obligations and are optimally positioned.

Related insights:

Dealtracker Agribusiness, Food & Beverage Dealtracker 2023

3 min read | 04 May 2023

Over the past 18 months, we have seen a consistent level of deal activity despite significant headwinds which have impacted the Agribusiness, Food & Beverage (Ag, F&B) sector and the broader economy. Through our analysis of 1,466 global transactions for the Ag, F&B sector in the 18-month period to December 2022, transaction multiples have remained strong – a pleasing result for businesses undertaking divestment activity.

Finance and funding

Our finance and funding team works to access sources of finance, present your case to potential funders and negotiate a long-term sustainable relationship. See Overview

Corporate finance
We provide effective and strategic corporate finance services across all stages of investments and transactions so clients can better manage costs and maximise returns.
Debt advisory
We work closely with clients and lenders to provide holistic debt advisory services so you can raise or manage existing debt to meet your strategic goals.
Working capital optimisation
Our proven methodology identifies opportunities to improve your processes and optimise working capital, and we work with to implement changes and monitor their effectiveness.
Capital markets
Our team has significant experience in capital markets and helps across every phase of the IPO process.
Capital raising
Backed by our experience accessing full range of available funding types, we work with clients to develop and implement capital raising strategies.
Private equity
We provide advice and support across the entire lifecycle of what private equity firms experience to address key issues and fulfil strategic goals.
Financial modelling
Our financial modelling advisory team provides strategic, economic, financial and valuation advice for project types and sizes.
Payments advisory
We provide merchants-focused payments advice on all aspects of payment processes and technologies.

Related insights:

Dealtracker Agribusiness, Food & Beverage Dealtracker 2023

3 min read | 04 May 2023

Insolvency

Our insolvency teams takes a proactive approach so our clients have access to more business turnaround options and retain the most value for all stakeholders. See Overview

Voluntary administration & DOCA
We help businesses considering or in voluntary administration to achieve best possible outcomes.
Corporate insolvency & liquidation
We help clients facing corporate insolvency to undertake the liquidation process to achieve a fair and orderly company wind up.
Complex and international insolvency
As corporate finance specialists, Grant Thornton can help you with raising equity, listings, corporate structuring and compliance.
Safe Harbour advisory
Our Safe Harbour Advisory helps directors address requirements for Safe Harbour protection and business turnaround.
Bankruptcy and personal insolvency
We help clients make informed choices around bankruptcy and personal insolvency to ensure the best personal and stakeholder outcome.
Creditor advisory services
Our credit advisory services team works provides clients with credit management assistance and credit advice to recapture otherwise lost value.
Small business restructuring process
We provide expert advice and guidance for businesses that may need to enter or are currently in small business restructuring process.
Asset Tracing Investigations
Our team of specialist forensic accountants and investigators have extensive experience in tracing assets and the flow of funds.

Related insights:

Podcast The 2023 outlook: Insolvencies and distressed M&A

18 min read | 30 Mar 2023

We’ve made it to the other side of COVID-19, but what does this mean for businesses feeling significant headwind on the horizon post-pandemic?

Restructuring and turnaround

We help clients identify and undertake restructuring and turnaround initiatives to preserve profitability and protect and recover value. See Overview

Independent business reviews
Does your company need a health check? Grant Thornton’s expert team can help you get to the heart of your issues to drive sustainable growth.
Commercial performance
We help clients improve commercial performance, profitability and address challenges after internal or external triggers require a major business model shift.
Safe Harbour advisory
Our Safe Harbour advisory helps directors address requirements for Safe Harbour protection and business turnaround.
Corporate simplification
We provide corporate simplification and managed wind-down advice to help streamline and further improve your business.
Director advisory services
We provide strategic director advisory services in times of business distress to help directors navigate issues and protect their company and themselves from liability.
Debt advisory
We work closely with clients and lenders to provide holistic debt advisory services so you can raise or manage existing debt to meet your strategic goals.

Related insights:

Insight A treasure hunt: the process of tracing assets

Kelly Rigby

| 2 min read | 04 Oct 2022

Asset tracing is a process whereby forensic accountants and investigators ‘follow the money’ by locating assets of value to an individual or company that have been misappropriated. Asset tracing is usually undertaken for the purposes of recovery, often as part of formal insolvency processes or in support of ongoing litigation or fraud investigations. It involves a complex analysis to identify assets and the flow of funds, requiring a combined skillset of forensic accounting, investigation and technology. Engaging forensic accountants specialising in asset tracing can make a substantial difference in what misappropriated assets are recovered and exactly how much.

Business services

We work with private businesses across Australia – and internationals looking to Australia for their investments and operations – on all accounting and... See Overview

Business planning & strategy
Our clients can access business planning and strategy advice through our value add business strategy sessions.
Private business company secretarial services
We provide company secretarial services and expert advice for private businesses on all company secretarial matters.
Outsourced accounting services
We act as a third-party partner to international businesses looking to invest in Australia on your day-to-day finance and accounting needs.
Superannuation and SMSF
We provide SMSF advisory services across all aspects of superannuation and associated tax laws to help you protect and grow your wealth.
Management reporting
We help you build comprehensive management reporting so that you have key insights as your business grows and changes.
Financial reporting
We help with all financial reporting needs, including set up, scaling up, spotting issues and improving efficiency.
Forecasting & budgeting
We help you build and maintain a business forecasting and budgeting model for ongoing insights about your business.
ATO audit support
Our team of experts provide ATO audit support across the whole process to ensure ATO requirements are met.
Family business consulting
Our family business consulting team works with family businesses on running their businesses for continued future success.
Private business taxation and structuring
We help private business leaders efficiently structure their organisation for optimal operation and tax compliance.
Outsourced CFO services
Our outsourced CFO services provide a full suite of CFO, tax and finance services and advice to help clients manage risk, optimise operations and grow.

Consulting

Our consulting team supports its clients with hands-on and proactive advice on all aspects of their strategies for sustainable growth. See Overview

Management consulting
Our management consulting services team helps you to plan and implement the right strategy to deliver sustainable growth.
Financial consulting
We provide financial consulting services to keep your business running so you focus on your clients and reaching strategic goals.

Related insights:

Insight The importance of self-managed super fund administration

4 min read | 01 Jun 2023

As a Trustee (the person who manages the fund) you have many obligations you must adhere to once your self-managed super fund (SMSF) is setup.

Asia

The growth gateway See Overview

China
The investment opportunities between Australia and China are well established yet, in recent years, have also diversified.
India
It’s an exciting time for Indian and Australian businesses looking to each jurisdiction as part of their growth ambitions.
Japan
The trading partnership between Japan and Australia is long-standing and increasingly important to both countries’ economies.

Indigenous advisory

We take a full view of Indigenous-specific requirements and optimisation opportunities available to businesses. See Overview

Agribusiness, Food & Beverage

Supporting the growth of ‘Australian Made’ in today’s markets See Overview

Related insights:

Dealtracker Agribusiness, Food & Beverage Dealtracker 2023

Over the past 18 months, we have seen a consistent level of deal activity despite significant headwinds which have impacted the Agribusiness, Food & Beverage (Ag, F&B) sector and the broader economy. Through our analysis of 1,466 global transactions for the Ag, F&B sector in the 18-month period to December 2022, transaction multiples have remained strong – a pleasing result for businesses undertaking divestment activity.

3 min read | 04 May 2023
Insight Government plans to grow the agribusiness, food and beverage sector in 2023

Australia’s agribusiness, food and beverage industry has faced major challenges in the past few years, including supply chain issues and staff shortages caused by COVID-19 and the disruption to migration. While the industry has been resilient, these issues continue to remain – but there’s a glimmer of hope through the investment and initiatives by both Federal and State Governments. So how can you leverage incentives and create operational efficiencies to set your business up most effectively in 2023?

Mauri Mucciacciaro
| 4 min read | 12 Jan 2023
Insight Export into India: opportunities for Agribusiness, Food & Beverage businesses

With the Australia-India Economic Cooperation and Trade Agreement passing through Federal Parliament of Australia last week, now's the ideal time to assess your India strategy. What are the key opportunities your Agribusiness, Food & Beverage business can explore as part of your India strategy? Find out more about areas of opportunity you can leverage.

3 min read | 01 Dec 2022
Client alert Fair Work Ombudsman releases its strategic priorities and key industry focus for FY23

The Fair Work Ombudsman (FWO) has announced its strategic priorities for 2022-23 including where audit and enforcement activities will be undertaken in relation to wage underpayments.

Jessica Farthing
| 1 min read | 28 Jun 2022

Energy & Resources

From an active natural resources M&A market, a growing energy and renewable energy market, to new technologies and export and trade agreements – we have the... See Overview

Renewable Energy
Transformation through energy transition

Related insights:

Client Alert Unlocking international opportunities in Australia's critical minerals and clean energy sectors

Simone Barker

| 5 min read | 07 Jun 2023

Australian critical minerals and clean energy industry players are primed to benefit from recent international partnerships with the USA, Singapore and others.

Financial Services

Working with the sector to understand and manage risk, embrace opportunity and support regulatory compliance See Overview

Health & Aged Care

Working alongside health, disability & aged care providers in a challenging environment See Overview

Life Sciences

On track for innovation and growth See Overview

Manufacturing

Supporting the growth of the innovators, the IP generators and the job creators See Overview

Not for Profit

Supporting social impact organisations to deliver for communities See Overview

Professional Services

Setting Australia’s knowledge powerhouse up for success See Overview

Real Estate & Construction

Supporting the sector to respond to economic and social shifts See Overview

Retail & Consumer Products

Our aim is to help you find a better, simpler, more efficient, and more profitable way of doing things to keep your business safe and help you grow. See Overview

Technology, Media & Telecommunications

Exciting, fast paced, innovative and disruptive See Overview

Business Planning and Strategy
Having an honest, broad-reaching and thought-provoking discussion with a skilled, independent advisor can be the catalyst for clarity – a direction to take your business forward and an understanding of what is key to success.

Related insights:

Insight Year-end considerations for growing Fintechs

6 min read | 07 Jun 2023

With growing business appetite for innovative financial technology and on-demand finance in recent years, Fintechs have been embraced by businesses and consumers alike. Fintechs now have the opportunity to drive change, expand into other industries – and sometimes even scale up and expand into new markets. As we near business planning season and end of financial year, have you considered how R&D Incentives, tax considerations and a governance structure can support your sustainable growth?

Careers

Working at Grant Thornton
Early careers
Experienced careers
Contact us
Alumni

Working at Grant Thornton

We do things differently. Our people have the freedom to drive change and shape their own destinies. We share ideas as well as the responsibility for making... See Overview

Flexibility
The compelling client experience we’re passionate about creating at Grant Thornton can only be achieved through our people. We’ll encourage you to influence how, when and where you work, and take control of your time.
Your career and development
No two careers are the same. We strive to create a culture of continuous learning and growth, and encourage you to seize opportunities to reach your full potential.
Diversity and inclusion
Our people come from diverse backgrounds, with their own unique skills and talents. This helps us create a strong and dynamic organisation where we foster innovation, curiosity and diversity of thought.
In the community
We’re passionate about making a difference in our communities. Through our sustainability and community engagement initiatives, we aim to contribute to society through creating lasting benefits that empower others to thrive.
What we offer you
We are committed to helping our people live a life they love. Our people are high-performers and we promote a healthy work-life balance that enables them to keep performing at their best.

Early careers

Here, you’ll join a collaborative, agile and dynamic firm that delivers quality services in Assurance, Tax, Financial Advisory, Private Advisory and... See Overview

Graduate opportunities
As a new graduate, we aim to provide you more than just your ‘traditional’ graduate program; instead we kick start your career as an Associate and support you to turn theory into practice.
Vacation program
Our vacation experience program will give you the opportunity to begin your career well before you finish your degree.
The application process
We are fortunate enough to receive thousands of applications for our graduate opportunities and vacationer programs each year. For this reason, assessing each application fairly takes time and we ask for your patience and understanding throughout the application process.
FAQs
Applying is simple! Find out more about each stage of the recruitment process here.
Our services lines
Learn about our services at Grant Thornton
Positions available
Positions available

Experienced careers

We’re consistently challenging our people and asking them to challenge themselves. Across our network, there’s always a new industry to investigate, a new... See Overview

Client spotlight
We’ve made it our business to understand our clients and take a hands-on and practical approach to the design and delivery of our advice. Above all, we’re committed to delivering the best outcomes and work with our clients to ensure success and growth of their business.
Positions available
Positions available

Alumni

Be a part of something great – join Grant Thornton’s Alumni program See Overview

For a company facing insolvency – when the directors are unable to pay their debts when due – the appointment of an independent registered liquidator can be the best and most proactive option for all key stakeholders. The liquidation process in Australia enables orderly and fair company wind up and can offer a level of protection and relief from responsibility to the directors.

Liquidator appointment

The appointment of a liquidator will relieve directors of the responsibility for dealing with the company’s affairs. A liquidator is appointed to an insolvent company in one of two ways:

Creditors’ voluntary liquidation: This appointment is generally initiated by a company’s directors who have resolved that a company is insolvent, and where the shareholders have passed a resolution to wind up the company.
Court liquidation: This type of appointment is initiated by a court ordering a company be wound up, typically on the application of a creditor seeking payment of unpaid debts.

Roles in liquidation process

The director’s role

Upon appointment of a liquidator, control of the company and its assets passes from the director(s) to the liquidator. In addition, a director is required to provide the liquidator with:

a report on the company’s activities and property (otherwise known as a ROCAP)
full access to the company’s books and records
any other assistance that the liquidator reasonably requires to help with the winding up. For instance, this may include meeting with the liquidator.

This is to ensure that the liquidator fully understands the assets and liabilities of the company in order to complete the winding up.

The liquidator’s role

The liquidator’s role in a business liquidation includes:

managing the termination of business operations, the sale of business assets for the benefit of creditors and the collection of receivables
dealing with creditor claims and communications, removing a considerable amount of stress from the directors and ensuring that all stakeholders are treated fairly
reporting to creditors on the causes of the company’s failure, potential recoveries available to the company and the likelihood of success. These items are addressed through two key reports (and other correspondence if necessary):
- First report is issued to creditors within 10 business days of the appointment
- Second report is issued within three months of the appointment - a liquidation may be finalised after the second report or may go on for some time, depending on the complexity of the assessment
facilitating the payment of employee entitlements – employees will typically be able to make a claim for unpaid entitlements through the Commonwealth Government’s Fair Entitlements Guarantee (FEG) scheme (only available once a company is placed in liquidation) for up to 13 weeks of unpaid wages, annual leave, PILN and redundancy entitlements
distributing funds created or raised during the liquidation process to creditors in accordance with statutory priority arrangements
deregistering the company.

How we help

Being faced with business liquidation can be a stressful time for the directors, owners and all stakeholders to the organisation. In the role of a liquidator, we help directors by conducting the process efficiently and with care to ensure the best possible outcome for all stakeholders.

Our team has extensive experience in managing all types, sizes and complexities of engagements. We are regularly appointed by major financial institutions, regulators and business owners to work on various matters requiring insolvency and restructuring expertise, and have deep experience working with distressed businesses in key industry sectors.

More information on corporate insolvency & liquidation

Court liquidation

When a company is insolvent and facing court liquidation there are key milestones to consider to achieve the best outcome possible for stakeholders.

Creditors' voluntary liquidation

When a company is insolvent, the CVL process is initiated in a two-step process and can provide better outcomes for all stakeholders involved.

Get in touch

Partner & National Head of Restructuring Advisory

Matt Byrnes

Learn more about Matt Byrnes

What is a liquidation?

Insolvent liquidation:

The winding up of a company that is facing insolvency or when debts cannot be paid. An experienced, independent third party typically manages the liquidation process. This independent liquidator can either be appointed by the company’s directors – and where the shareholders have passed a resolution to wind up the company – or by a court.

Subscribe to receive our publications

Subscribe now to be kept up-to-date with timely and relevant insights, unique to the nature of your business, your areas of interest and the industry in which you operate.