Find Company Liquidatorsin United Kingdom

A company liquidator takes control of the business, realises its assets, settles outstanding debts with creditors, and distributes any remaining funds to shareholders. They also investigate the conduct of directors and ensure that all legal requirements are met before the company is formally dissolved.

Costs vary depending on the size and complexity of the company. For a simple solvent liquidation, fees might be fixed. For insolvent cases, the liquidator's fee is often based on time spent or a percentage of asset realisations. Always request a clear fee structure before agreeing to proceed.

Directors can propose a members' voluntary liquidation if the company is solvent and can pay its debts in full within a specified period. Creditors' voluntary liquidation is used when the company cannot pay its debts. Shareholders must pass a resolution, and a licensed insolvency practitioner must be appointed.

The length of time depends on the complexity of the case. A straightforward solvent liquidation can complete in about six to nine months. An insolvent liquidation may take longer, especially if there are assets to sell or legal disputes to resolve. Creditor claims and investigations can extend the timeline.

Yes, you can still liquidate a company with no assets, but it is often done through a creditors' voluntary liquidation with a pre-packaged fee arrangement. Alternatively, you might apply for a strike-off from the register, but this does not provide the same protection against claims from creditors.

Alternatives include a company voluntary arrangement to repay debts over time, administration to give breathing space while restructuring, or a simple strike-off if the company is dormant and solvent. Each option has different implications for directors, creditors, and the future of the business.

Yes, once a liquidator is appointed, they take over control of the company's affairs. Your powers as director cease, and you must cooperate with the liquidator by providing books, records, and information. You cannot make decisions about the company's assets or operations without the liquidator's approval.

Employees are usually made redundant when a company enters liquidation. They may be able to claim statutory redundancy pay, unpaid wages, and holiday pay from the National Insurance Fund. The liquidator will provide them with the necessary claim forms and guidance on their rights.

Yes, if a director has acted wrongfully, such as trading while insolvent, misusing company funds, or breaching their duties, the liquidator can take legal action to recover money for creditors. Directors can also be disqualified from acting as directors for a period of time.

Look for a licensed insolvency practitioner who is regulated by a recognised professional body. Check their experience with similar cases, ask for a clear fee quote, and read reviews from other directors. You can also verify their licence through the Insolvency Service or the relevant regulatory authority.