Whatever your circumstances, it’s time to take action if you feel that your company cannot continue trading without worsening the position of its creditors.
After consultation with us to assess your financial position, if this is the best option we can help initiate the liquidation of your company and will assist with:
- Calling a board meeting in order to resolve that the company be placed into liquidation.
- Convening of two meetings – a shareholders meeting which passes the resolution to wind up the company and nominate a liquidator, the other meeting is a creditors meeting.
- Compiling and filing of statement of affairs and directors report
If we are the appointed liquidator we will then:
- Advertise the resolution in The Gazette
- Liaising with creditors, calling a creditors’ meeting and dealing with correspondence
- Investigate into any matters arising from the creditors meeting
- Instruct agents to collect and safeguard any assets that may be at risk.
- Submit a report to the Secretary of State for Business Innovation and Skill on the conduct of directors
- Realise all of the assets of the company
- Deal with employees and their potential claims
- Dealing with any company pension scheme
- Preparing proposals and reports for approval by creditors
- Agree creditors’ claims, make distributions to creditors and report to creditors on a minimum of an annual basis whereby an account of the liquidation will be given
- Dealing with all paperwork