Winding up application preparation
A winding up application must follow the statutory demand process closely. This checklist walks through the steps.
This is a 12-step checklist for preparing a winding up application. It covers standing, affidavit of debt, consent of liquidator, service and listing.
The checklist
Confirm grounds
Insolvency under s 459A is the usual ground; just and equitable under s 461 is a fallback.
Confirm standing to apply
Creditor, company, director or ASIC. Creditors must have a relevant debt.
Rely on the presumption of insolvency
Non-compliance with a statutory demand gives a presumption of insolvency for three months.
Prepare the originating process
Complete Form 2 originating process for winding up.
Prepare the affidavit verifying grounds
Affidavit must verify the statements in the application.
Prepare the affidavit of debt
Affidavit of debt in accordance with the rules.
Obtain consent of liquidator
Obtain a signed consent from a registered liquidator to act.
File with the court
File the application and supporting documents in the Federal Court or state Supreme Court.
Serve on the company
Serve at the registered office in accordance with the rules and s 109X.
Advertise the application
Publish the required notice in ASIC Insolvency Notices.
Prepare affidavit of compliance
Affidavit of compliance with the rules for service and advertisement filed before the hearing.
Attend the hearing
Attend and, where the grounds are made out, obtain orders for winding up and appointment of a liquidator.
When this checklist applies
Use this checklist when a statutory demand has not been complied with, or another ground under s 461 applies.
Common pitfalls
- Applying outside the 3-month presumption window
- Missing the liquidator consent before filing
- Defective advertisement
- Service on the wrong address
- Affidavit of compliance not filed
Run this checklist on a real matter
Quillio drafts winding up applications, affidavits and advertisement notices in current Australian format. See /practice-areas/commercial-lawyers.
This checklist is a general guide. Adapt for applications by ASIC, directors and shareholders.
Use this checklist on your matter.
Quillio can run this checklist on a specific NSW conveyancing matter — confirm each item, calculate adjustments, and generate the supporting documents. The free trial requires no credit card.
Start your free trial