Internal Memo / Announcement

Insolvency / Dissolution

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Description:

Internal staff announcement on insolvency / dissolution / restructuring of the company.

We regret to inform you that [we / creditors] have filed a winding up petition against on [date]. [It was a difficult decision to make but we are no longer financially viable to continue as a going concern.] According to the application, the Court will appoint a [liquidator / official receiver] to wind up the company and distribute the assets to its creditors.

 

How to use this Document?

 

This document should be carefully read before publishing, as it may invoke negative emotions of the staff. Add in any other items necessary but keep it simple.

 

One should also be careful not to make any promises that cannot be fulfilled in the announcement as it may result in insolvent trading by the directors.  

 

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Document Type:

Declaration / announcement / notice / press release

Category:

Business > Corporate > Insolvency, Liquidation and Winding Up

 
Keywords:

staff announcement

,  

insolvency

,  

dissolution

,  

bankruptcy

,  

restructuring

,  

lay off

,  

restructure

,