MONASH ABSOLUTE INVESTMENT COMPANY LIMITED (IN LIQUIDATION) A.C.N. 610 290 143 (the Company)
We refer to previous correspondence from the Company dated 5 September 2022.
At a meeting of shareholders held on Thursday 29 September 2022, shareholders resolved that the Company be placed into members’ voluntary liquidation (MVL), and Paul Weston of DW Advisory was appointed as Liquidator. This liquidation is proceeding as a solvent winding up.
The MVL procedure is used where a company has come to the end of its useful life and where it is anticipated that the company has sufficient funds to meet all liabilities in full, together with statutory and contractual interest, within twelve months of the commencement of the winding up.
Upon appointment of the Liquidator, the powers of the directors of the Company cease and Australian Securities and Investments Commission (ASIC) will be informed of the liquidation. Notice to potential creditors to submit any claims will be advertised on the ASIC Published Notices website.
During the liquidation, the Liquidator will seek to agree and pay the claims of any creditors, including the Australian Taxation Office (ATO), and to obtain clearance in respect of the Company’s tax affairs up to the date of the liquidation. The above liquidation process generally takes a minimum of three months due usually to the delay in obtaining taxation clearances from the ATO.
Following tax clearance being obtained from the ATO, the Liquidator will distribute surplus assets (if any) to the Company’s shareholders. The Liquidator does not presently expect to make a further dividend to shareholders but will advise shareholders accordingly if this position changes.
Once all assets of the Company (if any) have been realised and/or distributed to the shareholders, the liquidator will file a final return with ASIC and the Company is deregistered approximately three months thereafter.
Should you have any queries about the liquidation, please contact Vicky Kwong of DW Advisory on (02) 9234 0444 or email email@example.com.