Company Liquidators in Handcrossfor Professional Advice and Support

A company liquidator is a licensed insolvency practitioner who takes control of the company, realises its assets, and distributes the proceeds to creditors. They also investigate the directors' conduct and ensure the company is dissolved properly at the end of the process.

The cost varies depending on the complexity of the case, the number of creditors, and the assets involved. A licensed professional will provide a clear fee quote before you commit. In many cases, the fees are paid from the company's assets, but you should confirm this upfront.

A company is eligible if it is insolvent, meaning it cannot pay its debts as they fall due. The directors must make a statutory declaration of solvency, and the shareholders must pass a resolution. A licensed insolvency practitioner will confirm the correct procedure.

The process typically takes between six and twelve months, depending on how quickly assets can be sold and the level of creditor claims. More complex cases with disputed debts or legal issues can take longer to conclude fully.

Yes, you can. Even if the company has no assets, a licensed liquidator can still handle the process. The fees may need to be funded by the directors or a third party, but it is possible to close the company properly.

Voluntary liquidation is initiated by the directors and shareholders, whereas compulsory liquidation is forced by a court order, usually following a creditor's winding-up petition. The procedures differ, but both result in the company being wound up and dissolved.

Yes, alternatives include a company voluntary arrangement, administration, or informal arrangements with creditors. Each option has different implications, and a licensed professional can explain which one might suit your situation best before you decide.

Employees are made redundant when the company enters liquidation. They may be entitled to claim certain payments from the National Insurance Fund, including arrears of wages, holiday pay, and redundancy pay. The liquidator will provide the necessary forms.

In most cases, no, unless you have given a personal guarantee or you have acted wrongfully. If you have traded while insolvent or misused company funds, a liquidator may seek a court order to make you personally contribute to the company's assets.

You will need to provide the company's books and records, including accounts, bank statements, and details of debts and assets. You must also provide a list of creditors and any relevant contracts. The liquidator will guide you on what is required.