Liquidations & Receiverships
The laws governing companies are outlined in Fiji the Companies Act 2015. This Act regulates Fiji companies and section 411 onwards gives coverage to dissolution, liquidation and effectively cessation of a company.
A company can be dissolved either voluntarily or by a creditor, mortgagor etc because it cannot meet the commitments of its creditors and pay its debts.
When a company is wound up a liquidator is appointed. Powers of a Liquidator is spelt out in the Companies Act 2015 and cover such duties as but not limited to; take legal action, ascertain the position of the company’s financial situation, sale of company assets even sale of the company as a whole, hold meetings of creditors et al.
To hold a licence as Liquidator, the person must the hold a current certificate of public practice as a member of the Fiji Institute of Accountants, reside in Fiji and have prior experience in this area of work.
How we work together
At HLB Mann Judd (Fiji) we are current licenced Liquidators. We have a professional team to engage in any such testing assignments.
We ensure that the company’s assets are properly realised, and that distributions, where relevant, are undertaken in accordance with statutory priorities.
Our approach will assure stakeholders that the process will be transparent, orderly and in accordance with Fiji’s legislative requirements.