We specifically provide expertise and guidance in relation to a company liquidation and re-launch.
If you have a company which is being suffocated with debt you might consider the prospect of a phoenix company which is formed when the assets of an insolvent company are purchased by the company’s directors during administration or liquidation.
You can then start a new business which continues to operate in the same way using these assets. The result is that the business can resume trading as a new corporate entity with a completely clean slate.
If you are facing the prospect of having to liquidate your company because you are unable to pay your creditors, then you need to speak to us before you begin that process particularly if you want to continue with a new business.
Our role is helping you through a liquidation process and the emergence of a new trading entity to ensure that as a director you will protect yourself during the investigation process by the Insolvency Practitioner.
The preparation of your business for liquidation, which will be scrutinised in depth once you appoint a liquidator, will provide you the best opportunity to avoid potentially serious consequences before they arise.
While you have obligations as a company director to consider a form of liquidation in these circumstances, you need to consider the alternatives to liquidation and understand the process and finality of liquidating your company as it’s a complex process which is best planned in preparation for this move.
Our role is helping you through a liquidation process and the emergence of a new trading entity to ensure that as a director you will protect yourself during the investigation process by the Insolvency Practitioner.
The preparation of your business for liquidation, which will be scrutinised in depth once you appoint a liquidator, will provide you the best opportunity to avoid potentially serious consequences before they arise.
We are not insolvency practitioners, but we do understand the processes involved in liquidating companies and we have a great deal of experience in helping directors of companies deal with the challenge of putting a company into liquidation.
On the day that you appoint an insolvency practitioner you will no longer have the ability to resolve any issues which may arise during the process of liquidating your company and settling its affairs.
There is a heavy responsibility placed on the directors of companies in relation to their behaviour in the period preceding the appointment of the liquidator and we help you to ensure that the affairs of the company are in order as best as it is possible to do.
The outcome through a planned insolvency process will give you a seamless transfer of the business to a new debt-free company.
We are here to help to protect you and your business.
We undertake an initial review of your company’s financial position free of charge. If you have no financial information we can help you to prepare some information and introduce you to an auditor.
Once this review has been completed we will provide you with details of the options available to your company.
We will also identify any areas of potential concern to a subsequently appointed liquidator.
We will guide you through the potential pitfalls facing any director of an insolvent company and we will advise on whatever corrective measures to ensure that there are no areas of concern and that your conduct is deemed to be ‘fit and proper.
If you require further information about our services or if you have not found the answers you were looking for in our FAQ, please do not hesitate to contact us. Our team would be more than happy to assist you.
