Professional Company LiquidatorsServing Guildford Businesses

A company liquidator is a licensed insolvency practitioner who manages the closure of an insolvent company. Their role includes realising assets, agreeing creditor claims, investigating director conduct, and distributing any available funds to creditors in the legally prescribed order, before formally dissolving the company.

The cost of liquidation varies depending on the complexity of the case, the size of the company, and the number of creditors. Typically, fees range from £4,000 to £8,000 plus VAT and disbursements. Always obtain a fixed-fee quote in writing before appointing a liquidator.

A straightforward Creditors' Voluntary Liquidation can complete in around six to twelve months. However, complex cases with asset realisation or legal disputes may take longer. The liquidator must file final accounts and a report to creditors before the company is formally dissolved.

Yes, you can liquidate a company with no assets. This is often called a 'no-asset liquidation'. The liquidator's fee is usually funded by the director or a third party, as there are no company funds to cover costs. This process still requires a formal meeting of creditors or a deemed consent procedure.

Voluntary liquidation is initiated by the company's directors or shareholders, typically through a Creditors' Voluntary Liquidation. Compulsory liquidation is forced by a creditor through a court order, often following a winding-up petition. The latter leaves less control in the hands of directors.

Yes, alternatives include a Company Voluntary Arrangement (CVA) to restructure debts, administration to allow business rescue, or a formal dissolution if the company is solvent. Each option has distinct implications for directors, creditors, and employees. Professional advice is essential to choose the right path.

When a company enters liquidation, employees are automatically made redundant. They may be entitled to claim statutory redundancy pay, unpaid wages, holiday pay, and pension contributions from the National Insurance Fund. The liquidator provides each employee with the necessary claim forms (form RP1) and guidance.

Directors can be personally liable if they have given personal guarantees, traded wrongfully, or acted in breach of their fiduciary duties. The liquidator investigates director conduct and may pursue claims for misfeasance or fraudulent trading. Proper advice and early action can mitigate these risks.

A CVL is a formal insolvency procedure initiated by directors when a company cannot pay its debts. It involves a meeting of shareholders and creditors, who vote to appoint a liquidator. The liquidator then winds down the company's affairs, realises assets, and distributes proceeds to creditors.

Choose a practitioner who is licensed by a recognised professional body, such as the Insolvency Practitioners Association. Check their experience with companies similar to yours, ask for a fixed fee quote, and ensure they offer a face-to-face meeting. You can verify their licence online.