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This listing was generated using publicly available data to enhance visibility for businesses. If this is your business, claim your profile to update details.

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Frequently asked questions
What is the difference between a compulsory and a voluntary liquidation in Royston?
A compulsory liquidation is a court-ordered process typically initiated by creditors or HMRC when a company cannot pay its debts. A voluntary liquidation is initiated by the company's directors or shareholders. There are two types: a creditors' voluntary liquidation (CVL) is used for insolvent companies, while a members' voluntary liquidation (MVL) is for solvent companies. Our Royston liquidators can advise which route is suitable for your situation.
How much does it cost to liquidate a company in Royston?
The cost varies based on the complexity of the company's affairs, the number of assets, and the level of creditor involvement. For a straightforward solvent MVL, fees might start from around £1,500 plus VAT. For an insolvent CVL, fees are often based on a percentage of realisations or a fixed fee agreed upfront. We provide a clear, fixed-fee quote after a free consultation, with no hidden charges.
Can I continue trading while my company is being liquidated in Royston?
Once a liquidation order is made or a resolution is passed, the liquidator takes control. You cannot continue trading in the normal course of business. However, the liquidator may allow limited trading to complete contracts or sell stock if it benefits creditors. Our Royston liquidators will guide you on the legal boundaries to avoid wrongful trading claims.
What are the legal duties of a director during liquidation in Royston?
Directors must cooperate fully with the liquidator, provide all company records, financial statements, and information about assets and liabilities. They must not hide assets or prefer certain creditors. Directors are also required to attend meetings and answer questions about the company's affairs. Failure to comply can lead to personal liability, disqualification, or even criminal prosecution.
How long does a company liquidation take in Royston?
A solvent MVL can often be completed in 6 to 9 months, while an insolvent CVL typically takes 6 to 12 months, depending on the complexity of asset realisation and creditor claims. Compulsory liquidations may take longer if there are investigations. Our Royston team aims to expedite the process while ensuring full legal compliance.
Can I claim redundancy if my company goes into liquidation in Royston?
Yes, if you are a director and employee of an insolvent company, you may be able to claim statutory redundancy pay, unpaid wages, holiday pay, and notice pay from the National Insurance Fund (via the Redundancy Payments Service). Our liquidators can provide the necessary documentation (form RP1) and guide you through the claims process.
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