Liquidation Advice

 

Understanding the Voluntary Liquidation Process.

The actual process of Liquidating your company is very straight forward, at least from your point of view.   In only a matter of weeks you can put the debts of the past behind you.

Step 1 - Telk to us.

 Liquidation is not something you are allowed to do yourself.
To Liquidate a company you need to hold a license. 

Step 2 – Any company assets are valued.

If you would like to go back into business, you can buy these back at this stage.

Step 3 – A ‘statement of affairs’ is drawn up. 

This is just an analysis of the company, and the chances of any money going back to the company’s creditors.

Step 4 – Meeting of Creditors.

A meeting of creditors is called in order that any concerns they have may be raised. These meetings are rarely attended.

Step 5 – Meeting of Shareholders. 

As the shareholders are the owners of the company, they must give up their ownership in order to Liquidate the company.

…and that’s it!

At least as far as you are concerned. Occasionally we may need a bit more information from you, but it’s rare.

You can now get on with your life. Make a fresh start today - call 0800 411 57 03

Next Steps... How do I start the Liquidation Process How much does Liquidation Cost How will things be after Liquidation