Deregistering a company with debts
Why voluntary deregistration usually isn't the answer when debts remain.
Voluntary deregistration
Voluntary deregistration through ASIC is generally only available where the company has no outstanding liabilities (and meets other conditions). Applying while debts remain can create risk for directors.
The alternatives
Where a company has debts it cannot pay, the usual pathway to closing it is a formal process such as liquidation. In some cases a restructuring option may be worth considering first. We can talk through what applies to you.
General information only — not legal or financial advice. Any figures or time limits are indicative and can change. Every situation is different; speak with us about yours.