How to place a company into liquidation?
Placing a Company into liquidation is an extremely quick and easy insolvency process.
Notices needs to be prepared to convene a decision procedure of creditors. These notices consist of approximately five to six documents and once signed by the directors they are then sent to the creditors and shareholders.
The decision procedure is usually held within a week or two of the date notices were signed.
It is the shareholders who decide to place the Company into Liquidation and they nominate a liquidator. The creditors also get the opportunity to ratify that appointment, or alternatively they can nominate their own choice of liquidator. However in the vast majority of cases creditors are content to allow the shareholders' choice of liquidator to continue to act.
A Company can therefore be placed into liquidation within a week or two of instructing Purnells to do so. Purnells will prepare all of the necessary paperwork and write to all relevant parties, making the process extremely easy from the directors point of view.
More information can be found on our How to Place a Company into Liquidation webpage.
Alternatively, if you would like a free face to face, or telephone meeting, with a Licensed Insolvency Practitioner, please ring 01326 340 579 or 01305 458 383, to arrange a mutually convenient time and date to discuss the options open to you and your Company.
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