Professional Company LiquidatorsServing Watlington Businesses

A company liquidator is a licensed insolvency practitioner who manages the closure of a company. They realise assets, settle debts with creditors, and ensure legal requirements are met. They also investigate the company's affairs and report to creditors and shareholders.

The cost varies depending on the complexity of the case, the size of the company, and the number of creditors. Typically, fees are based on time spent or a fixed fee agreed upfront. You should always ask for a clear breakdown of costs before proceeding.

You are eligible if your company is insolvent, meaning it cannot pay its debts as they fall due. A licensed insolvency practitioner will assess your financial position and confirm whether a CVL is appropriate. This process requires a shareholder resolution and creditor approval.

The process involves appointing a liquidator, calling a meeting of shareholders and creditors, and then the liquidator takes control of the company's affairs. They will sell assets, agree claims from creditors, and distribute any funds. Finally, the company is dissolved.

A simple liquidation may be completed within six months, but complex cases can take longer. The timeline depends on the number of assets, the level of creditor claims, and any investigations required. Your liquidator will provide an estimated timeline at the start.

Alternatives include a company voluntary arrangement, administration, or informal arrangements with creditors. These options may allow the business to continue trading or achieve a better return for creditors. A licensed professional can advise which route is best for your situation.

Yes, you can. If the company has no assets, a liquidator may still be appointed, but you will need to consider how the fees will be paid. In some cases, directors may fund the liquidation personally, or it may be possible to use a statutory declaration of solvency.

Employees are made redundant when a company enters liquidation. They may be entitled to claim redundancy pay, unpaid wages, and holiday pay from the National Insurance Fund. The liquidator will provide information and help employees understand their rights.

Directors must cooperate with the liquidator, provide all relevant information, and not dispose of any company assets without permission. They must also avoid wrongful trading and ensure that they do not take preferential treatment over other creditors.

No, once liquidation begins, the company must cease trading. The liquidator takes control of the business and its assets. If you wish to continue trading, you may need to consider an alternative procedure such as administration or a company voluntary arrangement.