Company Liquidators in Wimbledonfor Professional Guidance

A company liquidator is a licensed insolvency practitioner who manages the closure of a company. They sell assets, settle creditor claims, and ensure legal compliance. They also investigate director conduct and report to authorities if necessary.

Costs vary depending on the complexity of the case, but typical fees range from £4,000 to £8,000. This covers the liquidator's time, statutory advertising, and administrative expenses. Some firms offer payment plans or take fees from realised assets.

Yes, you can liquidate a company with no assets, but it may be classified as a 'no asset liquidation'. The liquidator will need to confirm there are no funds to cover costs, which may require a director's indemnity or a third-party contribution.

The process typically takes between 6 to 12 months from the date of liquidation. This includes asset realisation, creditor claims, and final distribution. Complex cases may take longer, especially if there are legal disputes or investigations.

Voluntary liquidation is initiated by directors or shareholders, often through a creditors' voluntary liquidation. Compulsory liquidation is forced by a court order, usually due to a creditor's petition. The former is more common and gives directors more control.

Yes, alternatives include company administration, a company voluntary arrangement (CVA), or informal restructuring. Administration gives a moratorium from creditors, while a CVA allows you to pay debts over time. These may help the company survive or achieve a better return for creditors.

Employees are made redundant when the company enters liquidation. They may be entitled to redundancy pay, notice pay, and unpaid wages, which can be claimed from the National Insurance Fund. The liquidator will provide the necessary documentation.

Yes, unless you are disqualified by a court. If you have acted improperly, you may face disqualification for up to 15 years. A liquidator may report your conduct, but most directors who cooperate are not disqualified.

You will need to provide company records, including accounts, bank statements, asset registers, and details of creditors. You must also provide a statement of affairs, which lists all assets and liabilities. Full disclosure is essential for a smooth process.

Generally, no, as limited liability protects directors. However, if you have given personal guarantees or acted wrongfully, you may be liable. The liquidator may pursue you for recovery of assets if you traded while insolvent.