Insolvency - Liquidation

This is the process by which a company is brought to an end by the Court and the making of a Winding Up Order. Whilst is is possible for a solvent company to be brought to an end in such a manner , it is usually an insolvent company unable to meets its liabilities which finds itself upon the wrong end of such a petition.

Despite government intervention and the new rescue culture supposedly sweeping the country this remains the most common form of corporate insolvency, whether voluntary or compulsory.

If a company cannot be saved our team can help you make arrangements for its orderly winding up including identifying a suitable liquidator and ensure all assets are preserved for the benefit of creditors (thereby preventing later proceedings against the directors personally).

Despite this area of the law being very clear as to its terms and effects, the procedure can sometimes be misused by creditors seeking recovery of debts owed to them and out team has considerable experience of handling all forms of liquidation for both the company and creditors, but also in defending incorrectly brought petitions and obtaining injunctions preventing presentation or advertising of the petition which can often prove ruinous to a business even before any Order is considered.