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Raven Solution
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 role of a company liquidator in Stretton?
A company liquidator in Stretton is a licensed insolvency practitioner who manages the winding up of a company's affairs. Their role includes realising assets, settling creditor claims, investigating the company's financial history, and ensuring legal compliance. They act in the interests of creditors and shareholders, distributing any remaining funds according to statutory priority. The liquidator also handles all necessary documentation with Companies House and HMRC, and can advise on director duties and potential liabilities.
How much does company liquidation cost in Stretton?
The cost of company liquidation in Stretton varies depending on the complexity of the case, the size of the company, and the type of liquidation required. For a simple creditors voluntary liquidation, fees typically range from £3,000 to £6,000 plus VAT, but many firms offer fixed fees. Solvent liquidations (members voluntary liquidation) may cost less. We provide transparent quotes after a free initial consultation, ensuring no hidden charges. It is important to compare quotes and check that the liquidator is licensed and experienced.
What is the difference between CVL and MVL liquidation?
CVL (Creditors Voluntary Liquidation) is for insolvent companies that cannot pay their debts. It is initiated by directors but controlled by creditors, and the liquidator sells assets to pay creditors. MVL (Members Voluntary Liquidation) is for solvent companies where directors swear a declaration of solvency. In an MVL, the liquidator distributes assets to shareholders after settling all debts. Both processes end with the company being struck off the register, but the procedures and outcomes differ significantly.
Can a company liquidator in Stretton help with director redundancy claims?
Yes, a company liquidator can assist directors with redundancy claims if they are employed under a contract of service and the company is insolvent. Directors may be eligible for statutory redundancy pay, unpaid wages, holiday pay, and notice pay from the National Insurance Fund. The liquidator will provide the necessary forms (e.g., RP1, RP2) and guide you through the claim process with the Redundancy Payments Service. Eligibility depends on your employment status and the company's financial position.
What happens to company assets during liquidation in Stretton?
During liquidation, the appointed liquidator takes control of all company assets, including property, equipment, stock, vehicles, and intellectual property. They will arrange for an independent valuation and then sell the assets to generate funds for creditors. The sale is conducted in a transparent manner, often through auction or private sale, to achieve the best possible price. Any assets subject to fixed charges (like a bank loan) are dealt with separately, and the proceeds are distributed according to legal priority.
How long does the liquidation process take in Stretton?
The duration of liquidation in Stretton depends on the complexity of the case. A straightforward creditors voluntary liquidation can take between 6 to 12 months to complete, while a members voluntary liquidation may be faster if the company is simple. Complex cases with numerous assets, disputes, or investigations can extend to 18 months or more. The liquidator must file final accounts and a report to creditors and Companies House before the company is dissolved. We provide a timeline during the initial consultation.
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