I want a essay about WINDING UP of 2000 words. It's should be based on AUSTRALIAN LAW. Every section no or reference should be mentioned. Here I have attached 5 pics which I copied from my book....

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Report on Winding up laws Australia
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Table of Contents

Introduction ................................................................................................................................ 3
Winding up................................................................................................................................. 3
Types of winding up .................................................................................................................. 3
Voluntary Winding up ........................................................................................................... 4
Voluntary winding up by the members .............................................................................. 4
Voluntary winding up decision by creditors ...................................................................... 5
Compulsory Winding up ........................................................................................................ 5
Winding up due to insolvency ........................................................................................... 6
Compulsory winding up due to other reasons.................................................................... 7
Process for winding up............................................................................................................... 7
Winding up order ....................................................................................................................... 7
Conditions .................................................................................................................................. 8
Liquidator ................................................................................................................................... 8
Committee of inspection ............................................................................................................ 9
Claim settlement ........................................................................................................................ 9
Deregistration process ................................................................................................................ 9
Voidable transaction ................................................................................................................ 10
Conclusion ............................................................................................................................... 10
Bibliography ............................................................................................................................ 11
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Introduction
In simple terms winding up can be defined as deregistration of the company when it aims to
come out of the market. Though there can be any reason behind it and the winding up process
also varies with it. This report has been prepared with the objective of understanding the
overall process of winding up in the Australian market. This report will include information
on the concept of winding up, different reasons for winding up, types of winding up,
conditions and procedures for winding a company, legal obligations. This report will help
eaders in having a concrete idea about the overall winding up process of a company.
Winding up
Winding up comes in the provision of corporation act; it has been revised in the year 1992. In
simple terms winding up means liquidation of the company. When a company sells its assets,
pay to its creditors and sell remaining assets then it can be regarded as dissolution of the
corporate entity. A company either wind up its subsidiary, any
anch or it can also a
corporate winding up. This law and its legal formalities have been discussed in the chapter 5
of the corporation law (Tomasic, Bottomley, & McQueen, 2002).
A company is spate entity from its owners, it is not easy to dissolve it at will, and there are
set procedures and system that needs to be followed by organization, in order to complete the
winding up process successfully, without getting involved in any legal obligation. According
to the corp. law in Australia, winding up can be opt by both solvent and insolvent
organizations. When a company is winded up, its name is being removed from the register.
Types of winding up
There are different types of winding up procedure that can occur in an organization, which
are as follow;
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Voluntary Winding up
Voluntary winding up involves number of process and legal proceedings to be followed. It is
a process of winding up a company by its members or creditors ath their wish. It is
oadly
divided in to two types that is member voluntary winding up of a company, which is adopted
y the solvent organization, where the owners of the company decides to close the company.
Another...