The liquidation of a company, also known as winding up a company, can be achieved to terminate the company.
A Members' Voluntary Liquidation may be appropriate where a company is solvent but no longer required. A Liquidator will then be appointed to realise and distribute the company's assets with all debts and liabilities being met within a specific period no longer than 12 months.
In an insolvent situation a Creditors Voluntary Liquidation, or a Compulsory Liquidation by the Court, will result in the appointment of a Liquidator. The Liquidator will then seek to realise any assets and distribute any realisations to the creditors. The Liquidator also has a statutory duty to investigate the conduct of the directors of the Company and the reasons for the company's insolvency.
Companies in administration cannot be forced into liquidation.
We can explain these processes in more detail to ensure the correct action is taken for your business.
- DISQUALIFICATION OF DIRECTORS
- RESERVATION OF TITLE
- IMPLICATIONS FOR LANDLORDS - TENANT INSOLVENCY
- CORPORATE RESCUE & RECOVERY
- PERSONAL INSOLVENCY
- BUSINESS SALES/PURCHASES FROM INSOLVENCY PRACTITIONERS
- TRUST/PROPERTY ISSUES ARISING FROM INSOLVENCY
- INVESTIGATIONS/RECOVERIES FOR CREDITORS
- TRADING A COMPANY WHILST INSOLVENT
- DEBT RELIEF ORDERS
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