Our company has been placed in liquidation and the liquidators are demanding all sorts of things from us. What am I obliged to do?
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Answer by Kelly Angus, Adelaide 5000 SA
- As directors you are obliged to inform the liquidator of the company’s financial affairs including providing the liquidator with a ‘report as to affairs’ (RATA) which sets out the company’s assets and liabilities.
- Directors must also provide the liquidator with all the books and records of the company and assist the liquidator throughout the liquidation.