Conduct of the Liquidation | Creditors

Types Of Liquidation

There are several types of liquidation or "winding-up"

Compulsory            i.e. by order of the court

Voluntary              i.e. at the instigation of its directors

• members' voluntary liquidation
  (where the company is solvent and can pay all its creditors in full within a year)
  
• creditors' voluntary liquidation
  (where the company is insolvent and cannot pay all its creditors in full)