Conduct of the Liquidation | Creditors

LIQUIDATION

Liquidation in the majority of cases is the process of winding up the affairs of an insolvent company. "Insolvent" means that the company is either unable to pay its debts as they fall due or that it does not have enough assets to cover its debts (its liabilities are greater then its assets).

The signs that a company has no choice but to go into liquidation are usually quite clear and include:

• Lack of desire by the directors to go on
  
• Claims, judgements, bailiffs calling at the premises
  
• Constant creditor pressure
  
• Constant bank pressure
  
• Inability to pay PAYE and VAT

Marlor Walls has great experience of liquidating insolvency companies. We understand that the making of that decision and the traumas leading up to it constitute a highly stressful time in a directors life. We will deal with the process of putting the company into liquidation professionally, non-judgementally and discreetly.