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kmslaw
kmslaw, Solicitor
Category: Australia Law
Satisfied Customers: 195
Experience:  I have 15 years legal experience behind me and I graduated from the University of Sydney with First Class Honours in Arts/Law.
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A block of land was liquidated by the two shareholders and

Customer Question

A block of land was liquidated by the two shareholders and sold by tender in June 2014.
After lengthy delays with getting tax rulings etc all creditors were payed out in May 2015.
To this date the two share holders have not received the surplus funds available from this sale(around $1.3 million). Aparrently now waiting for the past company accountants to do last tax returns.
I feel this procedure should have been a simple transaction and a quick turn around. It will shortly be 17 months since the liquidators have received this money.
What can I do as a shareholder to have this finalised'
Submitted: 1 year ago.
Category: Australia Law
Expert:  kmslaw replied 1 year ago.

Hi my name is***** am a NSW solicitor and I am going to help you with your inquiry today. If you think the liquidator is not observing a provision of the Corporations Act, regulations or the rules, you can complain to ASIC or the Supreme Court under this provision: http://www.austlii.edu.au/cgi-bin/sinodisp/au/legis/cth/consol_act/ca2001172/s536.html?stem=0&synonyms=0&query=Liquidator. However you'll need to review the Act, regulations and rules to do so. If you'd like me to do that for you I can offer you an additional service and you can get all the information you'll need to lodge a complaint or a claim. Naturally lodging a claim with the Court costs money as to need to pay a filing fee and it's best to get a lawyer to draft pleadings. If you go through ASIC it will be cheaper but may take longer.

Expert:  kmslaw replied 1 year ago.

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