Expert Company Liquidators in Tyronefor a Fresh Start

A licensed insolvency practitioner takes control of the company, realises assets, investigates the directors' conduct, and distributes funds to creditors in the statutory order. They also handle the legal paperwork to dissolve the company, ensuring the process is carried out correctly and efficiently.

The cost of a creditors' voluntary liquidation typically ranges from £4,000 to £8,000 plus VAT, depending on the complexity of the case, the number of creditors, and the work involved. A specialist will provide a fixed fee quote after an initial review, so you know the cost upfront.

Any director of a limited company that is insolvent – meaning it cannot pay its debts as they fall due – can propose a creditors' voluntary liquidation. The directors must pass a resolution and then convene a meeting of creditors to confirm the appointment.

The entire process, from the initial meeting to final dissolution, typically takes between 6 and 12 months. This includes the realisation of assets, agreement of creditors' claims, and the final distribution. Complex cases with legal disputes or asset recovery may take longer.

Yes, alternatives include a company voluntary arrangement (CVA), administration, or informal restructuring. A CVA allows the company to continue trading while paying creditors over time. A licensed professional will assess your situation and explain which option is most suitable.

The directors must hold a board meeting to pass a resolution that the company cannot continue trading. A statement of affairs must be prepared, and within 14 days a meeting of creditors is held to approve the liquidation and appoint the liquidator.

As a director, you are generally not personally liable for company debts unless you have given a personal guarantee, acted fraudulently, or traded whilst insolvent without considering creditors' interests. A specialist will review your conduct to identify any potential exposure.

Yes, a company with no assets can be placed into liquidation, but the directors must fund the process. If there are no assets and no funds, a director may apply for voluntary strike-off instead, provided the company meets the criteria and no creditor objects.

Employees are made redundant immediately when a liquidator is appointed. They may be entitled to claim redundancy pay, unpaid wages, holiday pay, and notice pay from the National Insurance Fund. The liquidator will provide the necessary forms and guidance to affected staff.

Look for a licensed insolvency practitioner who is regulated by a recognised professional body, has experience with your type of business, and offers a clear fee structure. You should also check their track record and ensure they communicate clearly throughout the process.