In: General

What happens to any investment or initial funding I made to the company?
August 14, 2018

Your Directors loan account will record money that you have put into the company. If you are owed money by the…

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Who does the Liquidator act for?
August 14, 2018

The Liquidator initially assists the board of directors in placing the Company into liquidation.  Once the Company is in liquidation then…

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Can I liquidate the company myself?
August 14, 2018

No, to undertake a formal insolvency process such as a Creditors’ Voluntary Liquidation, you will need to use a Licensed Insolvency…

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Can I buy the assets back?
August 14, 2018

Yes, as long as your offer reflects a fair value. The Liquidator has a duty to the company’s creditors to ensure…

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What happens to the assets?
August 14, 2018

The Liquidator will immediately look to take control of the company’s assets. The Liquidator will instruct an independent valuer to prepare…

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Does placing my company into liquidation prevent me from as acting as a director for another company?
August 14, 2018

Liquidating a company does not automatically prevent you from acting as a director in the future.  In a small percentage of…

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If I liquidate my company can I start a new one?
August 14, 2018

Liquidating a company will not prevent you from starting a new company or business.  The only restriction placed upon you will…

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Who pays for the liquidation?
August 14, 2018

The costs of liquidating a company can be paid a number of ways; The sale of company assets to fund the…

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Is my company insolvent?
August 9, 2018

There are two basic ways to assess whether your company is insolvent: Are your company’s liabilities greater than its assets? Can…

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