Company Voluntary Arrangements – CVA Contact Notary Services
Company Dissolutions Contact Notary Services
Member Voluntary Liquidation – your company can pay its debts, but you want to close it. You may choose members’ voluntary liquidation if your company is ‘solvent’ (can pay its debts) and one of the following applies: you want to retire you want to step down from the family business and nobody else wants to […]
Compulsory Liquidation – your company cannot pay its debts and you apply to the courts to liquidate it. A director can ask a court to order the company to stop trading and be liquidated (‘wound up’). This is known as ‘compulsory liquidation’. You need to show the court that: the company cannot pay its debts […]
Creditor Voluntary Liquidation Creditor`s Voluntary Liquidation – your company cannot pay its debts and you involve your creditors when you liquidate it A director can propose a company stops trading and be liquidated (‘wound up’) if: the company cannot pay its debts (it is ‘insolvent’) enough shareholders agree What the liquidator does? The liquidator is […]
Company director disqualification You can be banned (‘disqualified’) from being a company director if you do not meet your legal responsibilities. Anyone can report a company director’s conduct as being ‘unfit’. ‘Unfit conduct’ includes: allowing a company to continue trading when it can’t pay its debts not keeping proper company accounting records not sending accounts […]
Is an insolvency practitioner the same as a liquidator? A liquidator is one of a variety of roles an insolvency practitioner assumes depending on the case they have been appointed to deal with. In matters concerning limited companies, the three main roles an IP will undertake are as follows: Liquidator – Acting as a liquidator […]
What is an Insolvency Practitioner? A licensed Insolvency Practitioner (IP) has a wide range of duties about companies that are struggling financially. In the first instance, an insolvency practitioner can provide company directors with professional advice in pre-insolvency situations to try and rescue a business and keep it on track. At the other end of […]
What is Liquidation? In its simplest form liquidation is a formal process which brings about the closure of a limited company. As part of the process all company assets will be sold – or ‘liquidated’ – for the benefit of outstanding creditors and/or shareholders before the company is struck off – or dissolved – from […]