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Private company liquidation
Liquidation / Public examination / Forensic accounting
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The matter
Aston Chace was appointed by the court as liquidator of a Western Australian Iron Ore exploration company, following an application to the Supreme Court of New South Wales from the major shareholder and sole creditor for the company to be wound up.
The solution
Aston Chace’s task was to recover funds from a term deposit and distribute to shareholders of the company.
The outcome
The term deposit funds and additional cash were recovered and distributed, resolving the initial dispute between the shareholder and the company, and satisfying the Supreme Court of New South Wales which issued the relevant judgment.
