Compulsory Liquidation

Insolvent Business

Compulsory: (obligatory; forced; compelled; inescapable)
Liquidation: (cessation; closure; distribution)
 

The company cannot pay it’s liabilities when they fall due.
Liabilities exceed assets = the company is insolvent

The company is forced into liquidation by a Petitioning Creditor which results in the cessation of trade and loss of control by the Directors of the company. The Official Receiver will be appointed to take control of the company; assets and liabilities.

We establish whether there are other avenues available, for directors may not have considered all options. See CVL and CVA.
 

Key Issues:

• Disqualification of Directors.
• Writs/petitions has been served upon the company for debts payable over £750.00.
• The company does not have a future.
• Investigation into the trading activities of the directors by the Liquidator.
• Liquidation.
• Liquidation Committee.

See Admin Order or CVA.