Have you been ordered by the court to wind-up your insolvent company?

If so, we can help.

A compulsory liquidation is ordered by the court, usually on the petition of a creditor, the company or a shareholder. An Official Receiver (OR) immediately takes control of all aspects of your company.

A petition for compulsory liquidation can also be presented by a director, the Secretary of State or the OR.

The court will make a winding-up order if:
 
  • your company is unable to pay its debts;
  • your company has resolved by special resolution that it should be wound-up by the court; or
  • it is just and equitable that your company be wound-up.
A liquidator has a duty to realise your company’s assets for the benefit of creditors for the highest value and in the most cost-effective way.

Creditors are paid in accordance with a statutory order of priority and your employees’ claims are guaranteed up to a set limit by the Government.

Contact us for more information and to discuss how we can help you.