Company Liquidators in MarpleProfessional Advice and Support

The cost varies depending on the complexity of your company's affairs, the number of creditors, and the assets involved. A licensed insolvency practitioner will provide a fixed fee quote after an initial assessment. Creditors' voluntary liquidation typically costs more than a simple dissolution, but the fee is often paid from company assets.

Your company is insolvent if it cannot pay its debts as they fall due, or if its liabilities exceed its assets. You should seek professional advice as soon as you suspect insolvency, as trading whilst insolvent can lead to personal liability for wrongful trading.

The process begins with a board meeting to pass a resolution to wind up the company. Then, a meeting of creditors is held to confirm the appointment of a liquidator. The liquidator takes control of assets, realises them, and distributes funds to creditors in the statutory order.

A simple creditors' voluntary liquidation may be completed within six to nine months. However, complex cases with many assets or legal disputes can take several years. The liquidator will provide a timeline based on your specific circumstances.

Yes, you can. If the company has no assets to distribute to creditors, it may be possible to apply for a striking-off, but this is only suitable if the company has not traded or has no liabilities. Otherwise, a creditors' voluntary liquidation is still required to properly close the company.

Alternatives include a company voluntary arrangement (CVA), administration, or informal arrangements with creditors. A CVA allows the company to continue trading while paying off debts over time. Administration provides a moratorium from creditors while a restructuring is attempted.

Yes, once a liquidator is appointed, they take control of the company's affairs. The directors' powers cease, and they must cooperate with the liquidator. However, in a members' voluntary liquidation, the directors can appoint a liquidator of their choice if the company is solvent.

Directors must provide a statement of affairs, cooperate with the liquidator, and not dispose of company assets without consent. They must also avoid granting preferential treatment to any creditor. Failure to comply can result in personal liability or disqualification.

Employees who are owed wages, holiday pay, or redundancy payments are preferential creditors. They may also be able to claim from the National Insurance Fund for certain statutory payments. The liquidator will advise on the process and ensure claims are submitted correctly.

Yes, you can, but there are restrictions. If you have been a director of a company that went into insolvent liquidation, you may be subject to a disqualification order or undertaking. You must also avoid using a 'phoenix' company name that is similar to the old one.