You should consider stopping trading and dissolving your business.

You are not allowed to trade if your company is Insolvent.

Insolvent trading is the law under the Corporations Act section 588G that says that if a company is insolvent and a director allows the company to incur a new debt, then the director can be personally liable for the new debts incurred. The law makes directors responsible for ensuring that their company does not trade while insolvent.

There is an alternative to Liquidation and that is to dissolve your company.

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Getting a professional team to deal with your company dissolution is the best way to make sure you have no problems in the future.

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