Summons Issued?, page-28

Diploma have failed to comply with the Statutory Demand so they are now deemed to be insolvent.

Its now up to me to wind the company up but have just been quoted around 10k. Why can't we inform ASIC, give them the proof and they wind the company up?


From ASIC website
"While insolvent, a company must not trade or continue conducting business as usual. Trading while insolvent can result in civil penalties or criminal charges under the Corporations Act.
This means that you need be aware of your company's financial position."