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What is Compulsory Liquidation?

A compulsory liquidation is a form of liquidating a company which involves the courts. It happens when a winding-up petition has been issued by a creditor of an insolvent company, due to a debt not being satisfied.

 

How does a Compulsory Liquidation start?

After the aforementioned winding-up petition is heard at a winding-up hearing, a judge has the authority to make a winding-up order, which will place the company into compulsory liquidation.

 

Can I choose my Liquidator in a Compulsory Liquidation?

In cases where the process has progressed to the point that you have had a compulsory liquidation issued against you, it is not open for you to decide the liquidator yourself.

This will be decided by the courts who issued the compulsory liquidation.

 

How does a Compulsory Liquidation proceed?

At this point, the liquidation process will follow in the same manner as many others, albeit with less input from yourselves, given that the liquidation and liquidator have both been enforced on you by the courts.

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At the Insolvency Experts our sole aim is to rescue, recover and renew businesses that are in difficulty. We are specialists in corporate turnaround and help business overcome cash flow difficulties and other financial problems. Our experts:

  • Help you to take the appropriate steps to meet any impending deadlines
  • Have a long track record in helping companies in similar positions
  • Can help you take the best course of action, often using your assets to help you avoid additional cost

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Why Choose Us?

We understand you have already made every effort to avoid insolvency and day to day life is stressful at the moment. We can start immediately and quickly work with you through the process.

We see many examples of great businesses that have fallen on hard times or suffered through no fault of their own.

We understand that the company directors and shareholders have already tried valiantly to carry on trading, but circumstances dictate that this is no longer possible.

  • We Remove Stress
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