Professional Company Liquidatorsin Amesbury

Fees vary depending on the complexity of your case, the size of your company, and the number of creditors. Most liquidators charge a fixed fee or a percentage of realised assets. Always request a written quote before engaging a professional.

A company can enter creditors' voluntary liquidation if it is insolvent and the directors pass a resolution to wind up. The process requires a meeting of shareholders and creditors, and a licensed insolvency practitioner must be appointed as liquidator.

Typically, a straightforward liquidation may take between six to twelve months to complete, depending on asset realisation and creditor claims. Complex cases with legal disputes or missing records can take longer. Your liquidator will provide a timeline estimate.

Alternatives include a Company Voluntary Arrangement (CVA), administration, or formal restructuring. A CVA allows you to repay debts over time while continuing to trade. Administration provides a moratorium from creditors. A licensed professional can advise which option fits your circumstances.

Once a liquidator is appointed, your powers as director cease. The liquidator takes control of the company's assets and affairs. You cannot continue trading unless the liquidator specifically permits it for the purpose of winding up.

Employees are made redundant when the company enters liquidation. They may claim statutory redundancy pay, unpaid wages, and holiday pay from the National Insurance Fund. The liquidator will provide necessary documentation to support claims.

For creditors' voluntary liquidation, court attendance is not required. However, if a compulsory winding-up order is made by a court, you may need to attend hearings. Your legal advisor can guide you through the process.

You must provide all company records including financial statements, bank statements, tax returns, contracts, and employee records. The liquidator needs these to assess assets, liabilities, and any potential claims against directors.

Generally, no. Limited liability protects your personal assets. However, if you have given personal guarantees, acted fraudulently, or traded wrongfully, you may be held personally liable. Seek advice from a licensed professional to understand your exposure.

Look for a licensed insolvency practitioner who is regulated by a recognised professional body. Check their experience with similar companies and ask for references. You can also verify their status through the Insolvency Service register.