Professional Company LiquidatorsServing Wantage Businesses

A company liquidator in Wantage is a licensed insolvency practitioner who manages the closure of a company. They take control of assets, settle creditor claims, and ensure the company is dissolved legally. They also investigate the conduct of directors and report to creditors as required by insolvency law.

The cost of company liquidation in Wantage varies depending on the complexity of the case, the size of the company, and the number of creditors. Typically, fees range from a few thousand pounds for a simple creditors' voluntary liquidation to more for complex cases. Always request a fixed-fee quote upfront.

Solvent liquidation, known as a members' voluntary liquidation, is used when a company can pay its debts in full within 12 months. Insolvent liquidation, usually a creditors' voluntary liquidation, is for companies that cannot pay debts. The process differs in terms of creditor involvement and director duties.

The length of the liquidation process depends on the complexity of the company's affairs. A simple creditors' voluntary liquidation might be completed in 6 to 12 months, while more complex cases with asset realisation or legal disputes can take several years. The liquidator will provide a timeline after reviewing the case.

Yes, it is possible to liquidate an insolvent company with no assets, but the director may need to fund the liquidation costs. This is often done through a director's loan or by using personal funds. In some cases, a liquidator may agree to take on the case if there are potential claims against directors.

Alternatives to liquidation include company voluntary arrangements (CVAs), administration, or a simple strike-off if the company is solvent and not trading. Each option has different implications for directors and creditors. A licensed insolvency practitioner can help you assess which solution best fits your circumstances.

If you have given personal guarantees for business loans or leases, you could be personally liable for those debts. Otherwise, limited liability generally protects your personal assets. However, if you have acted improperly, such as trading fraudulently, you could face personal liability or disqualification.

Yes, directors can start a new business after liquidation, but there are restrictions. If you are disqualified as a director, you cannot act as a director of a new company without court permission. Also, buying assets from the liquidator or using the same company name may be restricted.

Directors must cooperate fully with the liquidator, provide all company records, and disclose all assets and liabilities. They must not hide assets or destroy records. Directors also have a duty to consider the interests of creditors when the company is insolvent, which is known as the 'creditor duty'.

Choose a liquidator who is licensed and regulated by a recognised professional body, such as the Insolvency Practitioners Association or the Institute of Chartered Accountants. Check their experience with similar companies and read client testimonials. You can also verify their licence on the Insolvency Service register.