Liquidation
Do you need to close your company quickly and easily, to eliminate the stress and pressure associated with creditors and personal liability? If so, liquidation or Creditors Voluntary Liquidation could be the solution that ensures you and your company can write off every penny of your outstanding debts and walk away from the business to start again elsewhere. Liquidation can allow you to put an end to sleepless nights, creditor calls and mounting bills, once and for all. All you have to do is act immediately and call us now, so we can guide your company through the liquidation process efficiently and professionally.
What is Liquidation?
Liquidation, CVL or business bankruptcy as it sometimes known is the process that occurs when a company is wound up because it cannot trade through its cash flow problems, cannot pay its debts and is no longer economically viable. At Insolvent Solutions, we can help you consider all the available options before you decide to liquidate your company, so you can rest assured that you are taking the best possible course of action for your business. Call us now to discuss the best solution for your company.
How does it work?
Next Steps: The sooner you take action, the sooner steps can be taken to get your company out of debt and allow you to face the future with renewed optimism. Our expert consultants will listen sympathetically to every aspect of your situation, quickly come to a full understanding of your business problems, in order to advise you on the best possible solution. At Alps, we are here to help YOU, not your creditors, and we guarantee to offer professional, impartial advice so you and your company can deal with your debts effectively. If voluntary liquidation is the best option for your business, one of our trained insolvency experts will meet with you at a mutually convenient time and location. This meeting is free of charge, with the objective being to gather further details on the circumstances surrounding your business problems and talk you through the next steps. Call now to set the train in motion. Appoint a Liquidator: Only a licensed insolvency practitioner can liquidate a company, we work in partnership with the leaders in the field. Once we have gathered all the relevant information, we pass this onto our licensed practitioner partner, who will act as nominated liquidator. Insolvent Solutions will contact all the company's creditors to inform them the business is going into liquidation. From this point onwards, your creditors will talk to us instead of you, immediately stopping the stress associated with unwanted phone calls and letters you have had to deal with previously.
Creditors Meeting: Once all creditors have been informed that the company is going into voluntary liquidation, a meeting is advertised in the press and held approximately one month later. Directors from your company are required to attend but an expert from Insolvent Solutions will also be there to act for you and in most cases, creditors choose not to attend and this is a very straightforward process.
Liquidation Begins: At this point, the company is officially liquidated and the assets of the company are sold off to pay creditors where excess funds are available. The liquidator will handle almost? all of the paperwork and related activities at this stage based on information provided by you. If the directors or shareholders decide to buy some or all of the assets from the liquidator in a process referred to as phoenixing, this must be confirmed before the liquidation process begins.
Why should I do it?
There are many advantages to liquidation that benefit both directors and shareholders, if there is no other viable way of overcoming debt problems and continuing the company.
Liquidation allows directors to formally close one company, end what is often a period of great stress and uncertainty and move forward. It allows a company to write off all its unpaid debts and stop further demands from all creditors.
Liquidation minimises the director's liability for wrongful trading and affects the company not the individuals involved. The directors involved can then move on and go back into business if they wish.
Any legal action against the company ends as soon as the company closes.
