Voluntary Liquidation is a process of closing a limited company…
…bringing everything to a natural end.
In essence, once you decide to put your company into Liquidation, a money pot is created (called a client account). Into this will go all the money the company can raise.
Any money the company is owed is called in by the Liquidator. It is not unusual for the amount that comes in to be less than what is actually owed (you would be surprised how people won’t pay when they find out your company is proposing Voluntary Liquidation).
Any assets the company hold are sold. This can be to a Director of the company (if you want to go back into business), or it can be to an outside bidder. If the Director buys the assets, then it should be at market value (we have valuers who can tell you). If it’s to an outside bidder, then it is simply whoever bids the most money.
If there is a Debenture holder then we will usually discuss the sale of assets with them as they hold a legal charge over them.
Any priority creditors (employees and Liquidators) will be paid from the pot. The rest of the money is distributed between creditors relative to their debt level.
Because it draws a line under a problem, it stops things getting any worse.
How can we help
Unlike other Liquidation Companies, we have structured ourselves and our Voluntary Liquidation Services in a way that genuinely helps you the most.
By Liquidating through us, we will:-
- Ensure you are aware of any problems before you commit to Liquidation
- Make sure your Liquidation goes as smoothly as possible
- Deal with any issues before they become a problem
- Try to make sure this is your first and only Liquidation
- Minimize the pain of Voluntary Liquidation
Make a fresh start in business and start your Liquidation – call 0800 612 94 78 now.
