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Liquidators Costs

When a company is solvent we have noted that no creditors meeting is held. Instead, the liquidator is appointed by the shareholders.

It is those same shareholders who, at the shareholders meeting at which the liquidator is appointed, pass the appropriate resolution(s) as to how that liquidator is to be remunerated.

You should always get a firm quote of those costs.

A liquidator may be remunerated by way of:

• a set fee or

• on the basis of the time spent by him and his staff.