A liquidator mediates to avoid liquidation.
A recent appointment took me to uncharted territory and gave me
a new appreciation for the importance of being an independent
party. While the appointment held a fairly standard remit
"investigate a company's debts", the outcome of my
work was not. Unknown to me at the time of being appointed
independent accountant, it morphed into becoming an informal
mediator between the disputing parties to try to resolve the
position without expensive legal proceedings and the possible
liquidator appointment on just and equitable grounds.
To set the scene, let me go back to the beginning. Two company
shareholders were in dispute over the 'correct' creditor
position, particularly in respect of its related entities. One
shareholder was concerned that company funds would be paid to
related parties that did not have a true entitlement to the funds.
That shareholder applied court to have the company assets placed
under a freezing order and
