Fast Track
Company Liquidation
Act Quickly
Before it's too late
If your company is insolvent, as a company director, you have a duty to cease trading and seek help.
If you are trying to trade your way out of financial problems, you may be breaking the law. It's not worth the risk trading while insolvent. The penalties can be severe and could impact your future. The sooner you get help, the better your outcome will be.
Benefits of Liquidation
- Instantly remove any pressure from creditors.
- Stop any legal action.
- Claim unpaid wages and redundancy pay for employees
- No more financial worries or stress
What is a Liquidation?
Liquidation is a formal process for an insolvent company. The company's assets are turned into cash and then distributed to its creditors. After the assets are sold and the proceeds distributed, the company is dissolved and ceases to exist. If a company has no assets, it is simply wound down in the same process. Liquidation is essentially the end of the road for a company.
Take Advantage of New Insolvency Rules
A change to UK insolvency legislation on 6th April 2017 makes it possible for directors to commence the voluntary liquidation process online should their company become insolvent.
Prior to this date there was a requirement to hold a meeting of the company’s creditors, known as a Section 98 meeting, to appoint a liquidator and to present a statement of affairs to creditors. The appointment of a liquidator is now facilitated by using electronic means or a virtual meeting rather than a physical meeting.
Online Liquidation Process
Using modern technology, directors can now commence the liquidation process of their company without the requirement of attending a Section 98 meeting. A physical meeting is now only convened in limited circumstances and if specifically requested by creditors.
We've transformed company liquidation into a simple, fast & stress free experience for you.