Liquidation is the most widely used formal procedure to wind-up a limited company. It generally results in the business ceasing to trade, the realisation of its assets for the benefit of creditors and their subsequent distribution to the agreed or admitted creditors in accordance with statutory provisions.
The liquidation procedure differs depending on whether the company to be liquidated is insolvent or solvent.
Insolvent liquidation can be voluntary or compulsory.
In a voluntary liquidation, the process is commenced by the company directors. The company may nominate a liquidator but creditors are entitled to put forward their own nominee.
In a compulsory liquidation, more popularly referred to as a Court liquidation, the liquidator is appointed by the High Court following presentation of a winding up petition by the company, a creditor or its shareholders.
The RBK Corporate Recovery team have a wealth of experience in voluntary and Court liquidations and provide expert advice for business owners, lenders and creditors on the options and procedures available.
For a confidential discussion about your specific requirements, please contact a member of our team.
A solvent liquidation, also known as members’ voluntary winding up, may be instigated for a number of reasons, such as:
To avail of this method of winding up, a company must have sufficient realisable assets to discharge all of its liabilities within a prescribed timeframe.
Advice should be sought prior to commencing the liquidation to ensure that an appropriate strategy is adopted and to maximise the return on investment for shareholders.
RBK Corporate Recovery Partners act as liquidator in solvent liquidations for multinational corporate entities across the financial services and property sectors, as well as for private investors and stakeholders.
Where appropriate, we draw on the expertise of RBK’s tax specialists at an early stage in the liquidation process to ensure that surplus assets are distributed in the most tax effective manner.
For a confidential discussion about your specific requirements, please contact a member of our team.
Click here to visit our RBK Recovery Helpline page.
