A company can be wound up pursuant to the Corporations Act 2001, which specifies the circumstances in which a company can be wound up.

The Corporations Act allows a party to apply to a Court for a winding up order against a company which owes a debt or debts of more than the specified statutory minimum in the Act (as of this writing, $2,000.00). This application can be made after that party issues a Statutory Demand upon the company pursuant to the Act.

However, the Court will have the final say as to whether the company will be wound up, even after the issue and non-compliance with a Statutory Demand. I would suggest that the services of a barrister or solicitor be obtained in any winding up proceedings.

This method is not the only method by which a company can be wound up. I strongly suggest that you consult with a solicitor or barrister so they can investigate further and advise as to further applications or actions that might be appropriate.

Disclaimer: This advice is general and is not intended to be relied upon as advice for your specific situation and circumstances. In order to provide an advice taking into account the entirety of your unique circumstances, I would strongly recommend that you seek further professional legal advice.