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Bankruptcyassist

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Humour aside — bankruptcy is tough. This guide gives you an overview of the process, but always speak with a lawyer or accountant before making decisions.

Requirements for filing bankruptcy

To file for bankruptcy, all of these conditions must be met:

01

The company is insolvent — you cannot pay bills as they fall due

02

The inability to pay is not temporary (e.g. you're not just waiting for a large payment next week)

03

You have outstanding invoices and debt exceeding the value of your assets

04

The board has resolved to file for bankruptcy (for AS — requires board resolution)

Step by step

And remember — there's always a way forward. Next time you start up, you know where to find us.