Professional Company Liquidatorsin South West London

A licensed insolvency practitioner takes control of the company, realises its assets, agrees claims from creditors, and distributes any funds according to the statutory hierarchy. They also investigate the directors' conduct and report to the relevant authorities, ensuring the company is formally dissolved at the end of the process.

Fees vary based on the complexity of the case, the number of creditors, and the value of assets. Most practitioners charge a fixed fee for straightforward CVLs, but additional work such as recovering director loans or dealing with complex asset sales will increase costs. Always request a written quote before instructing anyone.

Technically possible for a solvent company via a members' voluntary liquidation, but it is rarely advisable. The statutory requirements are complex, and mistakes can lead to personal liability for directors. For insolvent companies, only a licensed insolvency practitioner can act as liquidator, so professional involvement is mandatory.

A straightforward creditors' voluntary liquidation typically takes between six and twelve months to complete, though this depends on how quickly assets are sold and claims are resolved. Complex cases involving litigation or overseas assets can take considerably longer. Your liquidator should provide a realistic timeline at the outset.

A creditors' voluntary liquidation is a terminal process that ends the company's existence, whilst administration is designed to rescue the business as a going concern. Administration provides a statutory moratorium against creditor action, giving the administrator time to restructure or sell the business, potentially preserving jobs and value.

Generally no, if you have acted properly and have not given personal guarantees. However, you can be personally liable if you have traded whilst insolvent, misused company funds, or given personal guarantees to lenders or suppliers. The liquidator will investigate your conduct and may pursue claims against you if wrongdoing is found.

Yes, but you must act with extreme caution. Continuing to trade whilst insolvent can lead to wrongful trading claims against you personally. You should seek professional advice immediately and ensure that you do not take on new credit that the company cannot repay. Your priority must be to protect creditors' interests.

The liquidator will dismiss all employees shortly after their appointment. Employees may be entitled to claim statutory redundancy pay, unpaid wages, holiday pay, and notice pay from the National Insurance Fund. The liquidator will provide the necessary forms and guidance to help employees make these claims promptly.

Yes, several options may be available depending on your circumstances. A company voluntary arrangement allows you to repay debts over time whilst continuing to trade. Administration may rescue the business. Alternatively, you could negotiate informal payment plans with creditors or consider a structured sale of the business before formal insolvency proceedings begin.

You will need to provide full company records including accounts, bank statements, tax returns, debtor and creditor lists, asset registers, and details of any charges or guarantees. You must also disclose any transactions with connected parties. The liquidator will require a statement of affairs showing the company's financial position.