Expert Company LiquidatorsServing Newhaven

A company liquidator is a licensed insolvency practitioner who manages the closure of a company. They sell assets, settle creditor claims, and distribute any remaining funds to shareholders. They also investigate the directors' conduct and ensure that the process complies with insolvency law.

The cost of liquidation varies depending on the complexity of the company's affairs. Typically, fees are based on the work involved, such as asset realisation and creditor communication. We provide a clear fee structure before you commit, and we can discuss funding options if the company has limited assets.

Any limited company that is insolvent or cannot pay its debts as they fall due may be eligible for creditors' voluntary liquidation. A director can also apply to wind up a solvent company. Eligibility depends on the company's financial position and the specific circumstances.

The process typically takes between 6 and 12 months, but it can be longer if there are complex asset sales or legal disputes. The liquidator must finalise all claims and distribute funds before the company is dissolved. We aim to conclude matters as efficiently as possible.

Alternatives include company voluntary arrangements, administration, or informal arrangements with creditors. In some cases, a business can be rescued through restructuring or refinancing. We assess your full situation to determine whether any of these options might be more suitable than liquidation.

Yes, it is possible to liquidate a company with no assets, but you may need to fund the liquidation costs personally. This is often done through a director's loan or a third-party funder. We can discuss the options available to you in this situation.

Employees are made redundant when a company goes into liquidation. They may be entitled to claim redundancy pay and other statutory payments from the National Insurance Fund. The liquidator will provide the necessary documentation to help employees make these claims.

Once the liquidation is complete, the company is dissolved, and the director's duties cease. However, directors must cooperate with the liquidator during the process, providing information and attending meetings if required. Failure to do so can result in personal liability.

Generally, directors are not personally liable for company debts unless they have given personal guarantees or have acted wrongfully. The liquidator will investigate the conduct of directors and may seek to recover funds if there has been misfeasance or wrongful trading.

To start the process, you should contact a licensed insolvency practitioner for a confidential consultation. We will review your company's financial position, explain the options, and guide you through the necessary steps to convene a meeting of creditors and appoint a liquidator.