Run a members’ voluntary winding up of a solvent company
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- From the company’s accounts, liabilities list and members’ instructions, build the timetable and document set for a members’ voluntary winding up: the directors’ declaration of solvency, the board minutes, the notice of meeting and special resolution to wind up and appoint the liquidator, the published notice and the ASIC lodgements, drafted from the firm’s precedents.
- What the lawyer must review
- The lawyer confirms the directors can honestly make the declaration of solvency after inquiry into the company’s affairs, decides whether winding up or voluntary deregistration suits the company, checks the sequence and timing of each step, and settles the documents with the proposed liquidator.
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | From the company’s accounts, liabilities list and members’ instructions, build the timetable and document set for a members’ voluntary winding up: the directors’ declaration of solvency, the board minutes, the notice of meeting and special resolution to wind up and appoint the liquidator, the published notice and the ASIC lodgements, drafted from the firm’s precedents. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Confirm a majority of directors make the declaration of solvency before the members’ meeting.
- Check the special resolution appoints the liquidator and is notified and published as ASIC requires.
- Confirm the directors understand the liquidator must act if the company cannot pay its debts within the declared period.
Forms and precedents for this task
| Form or precedent | Kind | AI use | Summary |
|---|---|---|---|
| ASIC Form 205: notification of resolution | Form | AI use Yellow | Link to ASIC Form 205, the notification that a resolution has been passed. |
Signed-in accounts can read the full text of each one. All precedents.
Sources
- ASIC — Wind up a solvent company · 2026-10-18
- ASIC — Flowchart 1: Liquidator in a members’ voluntary winding up · 2026-10-18
These are suggested working checks. Confirm the required checking with the responsible lawyer before work starts; the checking approach does not establish permission to use AI.