Professional Company LiquidatorsServing Robertsbridge Directly

A licensed insolvency practitioner takes control of the company, realises its assets, agrees claims with creditors, and distributes any funds according to legal priority. They also investigate the directors' conduct and report to the relevant authorities, ensuring the closure is handled properly.

Costs vary based on the size and complexity of the company, but most fixed-fee packages start from around £4,000 plus VAT and disbursements. The liquidator's fee is paid from company assets, not from your personal funds, though you should confirm this before agreeing to proceed.

A creditors' voluntary liquidation typically completes within six to twelve months, depending on how quickly assets are sold and any investigations are concluded. Simple cases with few assets and no disputes can finish sooner, whilst complex matters with legal challenges may take longer.

Yes, you can place an insolvent company into liquidation even if it has no assets. This is often called a 'no asset liquidation' and is funded by the director or a third party. The process still requires a licensed insolvency practitioner to handle the statutory duties and creditor communication.

A creditors' voluntary liquidation (CVL) is initiated by the directors and shareholders, who appoint a liquidator of their choice. Compulsory liquidation is forced by a creditor through a court order, and the official receiver or an appointed insolvency practitioner acts as liquidator. The latter is more costly and less controlled.

Yes, alternatives include a company voluntary arrangement (CVA) to repay debts over time, administration to protect the business while restructuring, or informal negotiations with creditors. A licensed insolvency practitioner can assess your financial position and recommend the most suitable route, potentially saving the business.

Employees are made redundant once the company enters liquidation, and they become preferential creditors for unpaid wages, holiday pay, and pension contributions. They can claim certain payments from the government's redundancy payments scheme, but any claims must be submitted within the required time limits.

No, a creditors' voluntary liquidation does not require a court appearance. The process involves a meeting of shareholders and a separate meeting of creditors, which can be held virtually. The appointed liquidator then handles the administration, so you avoid the stress of court proceedings.

No, once the company enters liquidation, the liquidator takes over control and the directors' powers cease. Trading must stop immediately, except in limited circumstances where the liquidator decides it is beneficial to sell off stock. Continuing to trade without authority could lead to personal liability.

If you continue trading when you know the company cannot pay its debts, you risk personal liability for wrongful trading. This means you could be ordered to contribute to the company's assets from your own pocket. Seeking professional advice early can help you avoid this risk and act lawfully.