Professional Company LiquidatorsServing Marlow Businesses

The cost depends on the complexity of your company's affairs. A straightforward creditors' voluntary liquidation may cost a fixed fee, whilst a more complex case with asset realisation or legal issues will cost more. Always request a clear written quotation before you appoint anyone.

Solvent liquidation is used when a company can pay its debts in full, typically through a members' voluntary liquidation. Insolvent liquidation applies when liabilities exceed assets, usually via a creditors' voluntary liquidation. A licensed practitioner will confirm which route is appropriate for your circumstances.

A simple creditors' voluntary liquidation may conclude within six to twelve months, whilst more complex cases can take several years. The timeline depends on the sale of assets, the resolution of creditor claims, and any investigations required. Your appointed liquidator will provide a realistic schedule.

Yes, it is possible to liquidate an insolvent company with no assets. The director may need to fund the liquidator's fees personally, or the process may proceed as a creditors' voluntary liquidation if creditors agree to the fee structure. Professional advice is essential in this scenario.

Employees are made redundant when a liquidator is appointed. They may claim statutory redundancy pay, notice pay, and holiday pay from the National Insurance Fund. The liquidator will provide the necessary forms and guidance to help employees submit their claims correctly.

Yes, alternatives include a company voluntary arrangement, administration, or informal arrangements with creditors. In some cases, a simple strike-off is possible if the company is solvent and not trading. A licensed professional will assess your financial position and recommend the most suitable option.

You must prioritise the interests of creditors over shareholders, avoid taking on new credit when you know the company is insolvent, and keep accurate financial records. You should seek professional advice immediately to prevent personal liability for wrongful trading or misfeasance.

Generally, no, because a limited company is a separate legal entity. However, personal liability can arise if you have given personal guarantees, acted fraudulently, or traded wrongfully. A liquidator will investigate your conduct and may pursue you personally if any impropriety is found.

Look for a licensed insolvency practitioner who is regulated by a recognised professional body. Check their experience with companies similar to yours and ask for references. You should also compare fee structures and ensure they offer clear communication throughout the process.

You will need to supply the company's statutory books, financial statements, bank statements, debtor and creditor lists, asset registers, and details of any director loans. The liquidator requires this information to conduct the process properly and to fulfil their legal reporting obligations.