If your company is approaching insolvency, you may be wondering if voluntary liquidation is a possibility. Perhaps if you do not act quickly a secured or unsecured creditor could take the future of th…
June 8th 2017
There are certain rules and regulations surrounding company liquidation, many of which focus on your actions as a director. Once a company becomes insolvent, you must put creditor interests first by c…
May 19th 2017
If you have reached agreement with other directors and shareholders that the company should be closed, the manner in which this is achieved depends on whether the company is solvent or insolvent. Clos…
June 14th 2017
The winding up of a limited company will be determined by the financial state of the business – is it solvent or insolvent? If you are thinking of closing down your company, whether it is solvent or…
August 23rd 2017
Creditors’ Voluntary Liquidation happens when shareholders and directors agree to place the business into liquidation because it can no longer pay its bills when they fall due. This is the most com…
April 28th 2017
There is a distinct difference between your company entering liquidation, and calling in administrators. Liquidation signifies the end of your business with the unavoidable loss of jobs for all employ…
When considering a business partnership, there are two distinct types of dissolution depending on whether one partner wants to carry on trading, or if the entire operation will cease to exist. Technic…
If your company is going into liquidation, the process will involve realising all business assets and holdings in order to repay creditors. There are two types of liquidation – voluntary and compuls…
Dissolving a limited company involves striking it off the register at Companies House, after which it ceases to exist. Directors approaching retirement often choose this cost-effective way to close do…
When a company is wound-up, whether via compulsory liquidation or a Creditors’ Voluntary Liquidation (CVL), a committee is sometimes formed to monitor the liquidator’s activities and look after th…
Incorporation generally provides protection from personal liability for product guarantees and warranties. Setting up a business using this legal structure makes the company a separate entity, with di…
During liquidation procedures creditor interests must be kept to the fore and, as a group, unsecured creditors have rights in the process. All creditors within that group must be treated equally, alth…
Dissolving a limited company is a fairly straightforward process, but there are specific conditions and requirements that need careful consideration. The dissolution process is a cost-effective way to…
May 15th 2017
When a company is dissolved, although it is struck off the register at Companies House, it can be restored at a later date should a creditor make a claim, or assets come to light that need to be dealt…
March 15th 2017
There are various ways to close down a limited company, from striking it off the register at Companies House to compulsory liquidation instigated by its directors. The most appropriate route for your …
If your business is failing and you are unsure how to proceed, one of the first aspects to consider is whether the company is actually insolvent, or approaching insolvency. This is a crucial point, as…
Company administration is a formal insolvency procedure that offers protection from creditor legal action via an initial eight-week moratorium period. The process can be instigated by company director…
August 1st 2017
When a company goes into liquidation its assets are sold to repay creditors, the business closes down, and its name is removed from the register at Companies House. There are two different types of li…
November 17th 2017
When a limited company becomes insolvent and there is no chance of rescue or restructure, liquidation becomes the only remaining possibility. But directors do have the option of voluntarily liquidatin…
January 31st 2018
There are a number of avenues that you could follow if you wish to close a solvent company. However, the most appropriate one for you depends on a number of factors, particularly concerning the compan…
March 1st 2018
If you own and run several companies which make up part of a group, there may come a time when you want to close one or more of these while continuing to trade with the others. There are a variety of …
March 6th 2018
When a limited company is dissolved and its name removed from the register at Companies House, directors must ensure that creditors are paid within 12 months of closure. This is a fundamental part of …
March 16th 2018
A company strike off procedure can be instigated by directors of limited companies if they wish to close a business. In this case it is known as a voluntary strike off and is actioned by the company d…
May 21st 2018
Closing down a company is a serious decision that needs careful consideration, whatever the reasons for closure. If you have any doubts about whether closing down your business is the right move to ma…
July 31st 2018
If your company has been liquidated and you are in the process of setting up a new business, you may be tempted to use the same, or a similar name, for your new venture. This may be particularly true …
December 10th 2018
Companies can cease trading for various reasons including a director’s retirement or ill health, ongoing financial problems, or simply because the company serves no further purpose. When a business …
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