PROFESSIONAL, FAST, EFFECTIVE COMPANY LIQUIDATION

Our aim is to to make the process of placing your company into liquidation as simple and cost effective as possible.

I’M LOOKING FOR AN

INSOLVENT LIQUIDATION

OR A CREDITORS’ VOLUNTARY LIQUIDATION (CVL)

The best and most appropriate option for companies that cannot pay their liabilities as they fall due, known as a creditors voluntary liquidation.

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I’M LOOKING FOR A

SOLVENT LIQUIDATION

OR A MEMBERS’ VOLUNTARY LIQUIDATION (MVL)

Appropriate for companies that have assets of a value greater than its liabilities. Typically used for shareholders to extract funds in the most tax efficient manner.

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HOW WE WORK

Having assisted company directors and owners for many years, we respect the need to provide fast and pragmatic advice. We also understand that sometimes directors simply want to understand what the cost implications of a liquidation will be before entertaining the option further.

Our bespoke online tool will provide you a quote for your liquidation process within seconds. Our experienced team will then follow up with you within 24 hours (at a time to suit you) to assess if a liquidation is correct for you and guide you every step of the way. Better yet, if a company has assets or a liquidation process facilitates a redundancy payment for directors, we will explore how the process may not cost you a penny!

FREQUENTLY ASKED QUESTIONS

With years of experience we know what people need to know in order to carry out a successful liquidation. We have created a useful FAQ to try and make the process as painless as possible.

How do I place my company into a creditors voluntary liquidation?

The resolution to place a company into voluntary liquidation will be voted upon at an extraordinary general meeting of shareholders. This meeting is usually convened by the board of directors upon their instruction of an insolvency practitioner to assist them with the process. The insolvency practitioner will ensure that adequate notice is provided to all shareholders and that a quorum is in attendance pursuant to the company’s memorandum and articles of association. We will also assist the directors in preparing a statement of affairs and a report containing various information that must be presented to creditors prior to the appointment of a liquidator.

What if my creditor's object to the liquidation?

As above, the decision to place a company into voluntary liquidation is that of the shareholders. Creditors will have to be notified of the proposed liquidation and they are given the opportunity to nominate an alternate insolvency practitioner if they do not agree to the appointment of the members’ nominated liquidator. This rarely happens in practice.

Not all the directors/shareholders agree to a Creditors Voluntary Liquidation process - can it still happen?

Yes. The board of directors will usually be the ones who decide to take steps to place the company into liquidation. The requisite voting majority will be set out in the company’s memorandum and articles of association, but is typically a simple majority.

At the members meeting, the shareholders will be asked to vote upon a special resolution. This means that at least 75% of the votes received at the meeting must be in favour of the liquidation. If this is not achievable but action needs to be taken to place the company into an insolvency process, you may need to consider a Compulsory Winding-Up or Administration. We can advise you on the appropriate steps to take.

EXPERT ADVICE & KNOWLEDGE

Our team has successfully assisted companies of all shapes and sizes, from a variety of different industries. With experience in administering all insolvency processes, we will provide you with tailored advice and the correct solution for your needs.

Furthermore, you will be guided by an experienced and licensed insolvency practitioner through each step of the process, not a sales person or unqualified adviser. We pride ourselves on providing high quality advice in a straight forward manner, helping you make the correct decision for you and your company. With My Liquidation, you are in safe hands.

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