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The process of liquidation in NSW follows strict legal steps. A registered liquidator takes control, investigates company affairs, sells assets, and distributes proceeds to creditors. Directors lose control once liquidation begins and must cooperate fully. Employees are usually terminated but may claim unpaid entitlements under the Fair Entitlements Guarantee. If you’re considering liquidation, see our guide on how to liquidate a company in Penrith for a detailed breakdown. Not all businesses must close—options like a small business restructure may preserve operations. For individuals personally impacted, bankruptcy help Penrith may also apply.
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