Expert Company Liquidatorsin Hamble

A licensed insolvency practitioner takes control of the company, realises assets, agrees creditor claims, and distributes funds in the correct statutory order. They also investigate director conduct and ensure that the company is dissolved properly at the end of the process.

Costs vary based on the size and complexity of the company, but a licensed professional will provide a clear fee quote before you commit. Creditors' voluntary liquidation fees are often paid from company assets, while a compulsory liquidation may involve court costs and official receiver fees.

A director can appoint a liquidator by passing a shareholder resolution for a creditors' voluntary liquidation, provided the company is insolvent. Alternatively, a creditor can petition the court for a compulsory liquidation, which leads to an official receiver or an appointed practitioner taking over.

The length depends on the complexity of the case, but a straightforward creditors' voluntary liquidation often concludes within six to twelve months. More complex cases involving asset realisation or legal disputes can take longer, and the final dissolution may occur after a further period.

Yes, a company with no assets can be placed into liquidation, but creditors may not receive a dividend. Directors may need to consider a strike-off as a cheaper alternative, but if the company is insolvent, a formal liquidation is often the correct route to protect against claims.

Voluntary liquidation is initiated by directors or shareholders, often through a creditors' meeting, and is the most common route. Compulsory liquidation is forced by a creditor through a court order, which is more formal and can involve additional penalties for directors.

Yes, alternatives include a company voluntary arrangement (CVA) to repay debts over time, administration to rescue the business as a going concern, or informal negotiations with creditors. A licensed professional can assess which option best suits your circumstances.

Employees are made redundant when the company enters liquidation, and they become preferential creditors for unpaid wages and holiday pay. They may claim redundancy payments from the National Insurance Fund, but this process is separate from the liquidation itself.

Directors must cooperate fully with the liquidator, provide all company records and accounts, and disclose any transactions that may be void or preferential. They must not hide assets or destroy records, as this could lead to personal liability or disqualification.

No, once a company enters liquidation, it ceases to trade, and the liquidator takes control. Directors may start a new business, but they must not reuse the same company name or a similar name for a period of time without court permission or following specific rules.