In: General
What happens to any investment or initial funding I made to the company?
August 14, 2018Your Directors loan account will record money that you have put into the company. If you are owed money by the…
Read MoreWho does the Liquidator act for?
August 14, 2018The Liquidator initially assists the board of directors in placing the Company into liquidation. Once the Company is in liquidation then…
Read MoreCan I liquidate the company myself?
August 14, 2018No, to undertake a formal insolvency process such as a Creditors’ Voluntary Liquidation, you will need to use a Licensed Insolvency…
Read MoreCan I buy the assets back?
August 14, 2018Yes, as long as your offer reflects a fair value. The Liquidator has a duty to the company’s creditors to ensure…
Read MoreWhat happens to the assets?
August 14, 2018The Liquidator will immediately look to take control of the company’s assets. The Liquidator will instruct an independent valuer to prepare…
Read MoreDoes placing my company into liquidation prevent me from as acting as a director for another company?
August 14, 2018Liquidating a company does not automatically prevent you from acting as a director in the future. In a small percentage of…
Read MoreIf I liquidate my company can I start a new one?
August 14, 2018Liquidating a company will not prevent you from starting a new company or business. The only restriction placed upon you will…
Read MoreWho pays for the liquidation?
August 14, 2018The costs of liquidating a company can be paid a number of ways; The sale of company assets to fund the…
Read MoreIs my company insolvent?
August 9, 2018There 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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