Understanding the Liquidation Process.
The actual process of Liquidating your company is very straight forward, at least from your point of view. In only a matter of weeks you can put the debts of the past behind you.
Step 1 – Talk to us on .
Voluntary Liquidation is something you are not allowed to do yourself. You will need to appoint a Liquidator – someone like us.
Step 2 – Any company assets are valued.
If you would like to go back into business, you can buy these back at this stage.
Step 3 – A ‘statement of affairs’ is drawn up.
This is just an analysis of the company, and the chances of any money going back to the company’s creditors.
Step 4 – Meeting of Creditors.
A meeting of creditors is called in order that any concerns they have may be raised. These meetings are rarely attended.
Step 5 – Meeting of Shareholders.
As the shareholders are the owners of the company, they must give up their ownership in order to Liquidate the company.
…and that’s it!
