Business dissolutions can take an emotional and financial toll on the stakeholders. 

Dealing with the treatment of assets and liabilities must be done in a methodical and equitable manner.

Transition Partners can provide independent mediation and utilise our proven processes for the winding down, separation or restructuring of a business partnership. 

The outcomes should represent an acceptable resolution for all stakeholders. Transition Partners approach will assist in avoiding costly and stressful conflict.

The first step is to examine any existing partnership or business agreements and the extent to which they deal with the termination of the business or the exiting of a stakeholder.

The accountant should be consulted to confirm if there are any outstanding tax liabilities. Any employees of the business must receive all their entitlements and superannuation contributions.

Several questions will need to be resolved such as:

• How will plant and equipment, stock and produce be dealt with? 

• How will the value of any goodwill be determined?

• Are there any tax consequences arising from the transaction? 

• If business continuity is required, how is this best achieved?