Company Liquidation

Voluntary & Compulsory

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Company Liquidation

In essence, a company liquidation entails a liquidator (see further below) taking company assets and turning them into cash - with which any debt owed to creditors can be paid. At its end, the company is removed from the register at companies house and is considered dissolved.  Subject to numerous laws and regulation, company liquidation (winding up) can be complex and a licensed insolvency practitioner such as ourselves can help.

Liquidation advice & Action

Voluntary liquidation (voluntary winding up)

Compulsory liquidation (compulsory winding up)

Liquidation Process Overview

A liquidator (either the official receiver (an officer of the court) or a licensed insolvency practitioner) will administer the liquidation process.  During the liquidation process the liquidator will take control of the business and ensure the following:
  • Company trading ceases.
  • Termination or transfer of any contracts (including employee).
  • Settle any legal disputes.
  • Gather money owed to the company.
  • Liquidate assets and repay creditors accordingly.
  • Pay liquidation costs.
  • Remove the company from Companies House register and dissolve the company.
  • Report upon director conduct and reasons for liquidation.

Liquidation advice & Action

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