Liquidators & Your Rights
Liquidators aren’t all unethical. They’ve got a tough job to do and lots of priorities to balance. But at the end of the day – they don’t work for you.
Whether undertaken voluntarily or court imposed, liquidation brings with it a group of professionals tasked with selling your assets, and their ultimate obligations lie with the creditors. And themselves.
This leads some Liquidators to adopt shady practices to increase their personal enrichment at the expense of your peace of mind.
What Can You Do?
File a complaint with ASFA
The Australian Financial Services Authority (AFSA) is responsible for monitoring the standards and practices of anyone classed as a ‘personal insolvency practitioner’. This includes Liquidators.
This option should certainly be near the top of your list. But just going through the complaints process alone can be a lengthy process, and enforcement is rarely swift.
Exposing bad practice is vital – so if you’re being harassed by a shoddy liquidator, reach out to the peak body responsible for keeping him in line. You can lodge your compliant directly to AFSA by calling 1300 364 785.
Here's How To Tell If Your Liquidator Is A Bully
Being on the clock doesn’t mean being a bully. Liquidators are notorious for setting unrealistic timeframes for liquidation and use pressure tactics to get you to comply.
Some liquidators have serious boundary issues: invasive phone-calls made at unreasonable hours, followed by visits to private residences or even stalking.
Abrasiveness isn’t just a personality trait – it's a strategy. Constant pressure applied through a horrible attitude wears people down. Some Liquidators know it and use it.
Facing a dishonest Liquidator, when you both know you’re in the right, is an incredibly frustrating experience. Yet facing them alone can leave you feeling powerless.
Talk To A Lawyer Or Solicitor
Lawyers and solicitors will ensure that the full extent of the law is used to stop and prevent any harassment from a dodgy Liquidator.
They’ll also charge accordingly.
They also establish a highly adversarial relationship with you and other stakeholders in your liquidation process. If ramping the tension up a notch isn’t your objective, then maybe give lawyers and solicitors a pass.
If, however, you’re genuinely feeling threatened by the behaviour or statements made by a Liquidator, you should contact your local Police immediately.
Get Help From Doug Constable Group
We’ve been in the game a long time. We’ve seen all the tactics dodgy Liquidation professionals use, and we know how to affirm your rights legally, assertively and without increasing the tension between the parties involved.
More importantly, we help people get in touch with ethical liquidators before entering voluntary insolvency. With our decades’ experience in the game, DCG has longstanding relationships with excellent Liquidators who have served in the profession just as long as we have.
So, if you’d like to avoid problems of a bad Liquidator experience altogether, contact Doug Constable Group on 1300 93 4357 to discuss your business liquidation plans.
Contact DCG about getting an insolvency plan that doesn’t include dodgy liquidators.