WIND-UP Quote in NSW as at August 2014

Total Quote for client for Wind-up Petition for client is $6507.50 incl GST (doesn't include Agent Filing Fee or extra Hearings @ $501.60 per hearing)
Agent for Principal Approved Fee $5398.50 incl GST

Break-up is below for your records only do not send to client (use template email)

Commence Wind-up proceedings - $650 + GST (for client $780 + GST = $858.00)– This includes:

  1. Supreme Court Originating Process
  2. Affidavit of Service of creditor’s statutory demand for payment.
  3. Affidavit verifying debt
  4. Affidavit of prescribed information.
  5. Liaise with liquidator and obtain consent to appointment
  6. Arrange for agent to file documents at Court – there will be a charge for our filing agent to attend
  7. Prepare and lodge notice with ASIC
  8. Attend to service by post

There is also a filing fee with the Supreme Court for $2,951.00 (if your client is a corporation) (for client Quote $3570.50).

Proceed to hearing - $1,400.00 + GST (for client $1680.00 + GST = $1848.00). This includes:

  1. Arrange for advertisement to be placed in a newspaper notifying of wind up proceedings.
  2. Preparation and filing of affidavits before final hearing including:
    1. Affidavit of Service of Originating Process.
    2. Affidavit of Publication.
    3. Affidavit of Final Search.
    4. Affidavit Verifying Debt.
    5. Notice to Appointment of Liquidator.
  3. Solicitor to attend on final hearing to obtain wind up order against the debtor’s company or to dismiss proceedings.
  4. Prepare and lodge notice with ASIC Charge approx $30 + GST (for clients $36 + GST = $39.60)

If we are proceeding with the wind up we will need to advertise a notice of the wind up proceedings at least seven (7) days before the court hearing. This is required by the Corporations Act. The advertisement costs appx $145.00 + GST (for client $174.00 + GST = $191.40).

For extra court appearances for simple mentions, motions, adjournments, not reached/adjourned hearings - $380 + GST (for client $501.60).

For additional attendances including negotiations or correspondence with the other side, advising and acting on legal issues if and when they arise (such as assertions of genuine dispute, applications to set aside statutory demand, applications to oppose wind-up proceedings) – We will quote our fee as required and based on our discounted hourly rates with FMC.

Please note that if your client is commencing wind up proceedings, they need to be commenced within 3 months of the act of insolvency – the act of insolvency is 21 days after the date of service.