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Can solvent companies be wound up?

My business partner died last year and I no longer wish to continue running our company as he brought in most of the business and I don’t think I can make it work on my own. How can I do this?
Asked in Newcastle - Newcastle and Lake Macquarie, NSW, 07-12-2015
1 Lawyer Answered
View more Q&A on:
  1. Insolvency & Liquidation
Lawyer Answers (1): Answers from lawyers are general preliminary responses. They are not formal legal advice and cannot taken account of all your circumstances. They do not create a lawyer–client relationship.

Answer by Kelly Angus, Adelaide 5000 SA

  • A solvent company may be wound up by its members under a members’ voluntary liquidation or by the court following an application by its directors or members.

 

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