Creditor-Led Company LiquidatorsServing Mayfair Businesses

A licensed insolvency practitioner takes control of the company, realises its assets, settles creditor claims in the correct order, and formally dissolves the business. They ensure the process follows statutory rules and that directors' conduct is reviewed.

Costs vary depending on the complexity of the case, the number of creditors, and the assets involved. A licensed professional will provide a fixed fee or an hourly rate after an initial assessment. Always request a detailed breakdown before proceeding.

A director, shareholder, or creditor can petition for a compulsory winding-up. Alternatively, a voluntary liquidation can be initiated by the members or creditors. Each route has different requirements and consequences, so professional advice is essential.

Voluntary liquidation is initiated by the company's directors or shareholders, often through a members' voluntary liquidation if solvent. Compulsory liquidation is ordered by a court, usually following a creditor's petition. The process and outcomes differ significantly.

A straightforward creditors' voluntary liquidation may take six to twelve months to complete. Complex cases with asset disputes or investigations can take longer. The liquidator must file final accounts and notify Companies House before the company is dissolved.

Once a liquidator is appointed, the directors' powers cease. The liquidator may continue trading for a short period to complete contracts or sell stock, but only with the approval of the creditors' committee. Any trading must benefit the estate.

Employees are automatically dismissed when a compulsory liquidation order is made. In a voluntary liquidation, the liquidator may retain staff to assist with winding down. Redundancy payments and unpaid wages may be claimed from the National Insurance Fund.

Yes, options include a company voluntary arrangement (CVA), administration, or informal restructuring with creditors. A CVA allows the company to repay debts over time while continuing to trade. Administration provides a moratorium from creditor action while a rescue plan is attempted.

Wrongful trading occurs when a director continues to trade while knowing the company cannot avoid insolvency, without taking steps to minimise creditor losses. To avoid liability, directors should seek professional advice early and document their decisions.

Yes, a liquidator has a duty to investigate the conduct of directors in the period leading up to liquidation. If misfeasance, fraudulent trading, or wrongful trading is found, the liquidator can apply to the court for a disqualification order or compensation.