Insolvent liquidation
Close down your business
If your limited company cannot afford to pay its creditors then as a director you can close it down through an insolvent liquidation or Creditors’ Voluntary Liquidation (CVL). It requires agreement of shareholders to pass a ‘winding-up’ resolution. We can talk you through the process, organise the legal paperwork and start proceedings.
Stay in control
If you are under pressure from your creditors a CVL helps you keep control of the close down process. This is because it allows you to appoint liquidators and we work between you and your creditors to achieve a resolution.
However it is important that you seek our advice early, because as a director of an insolvent company you have a duty to minimise the loss to your creditors. Failing to do so correctly could lead to potential personal liabilities.
Expert insolvency guidance
“At CG&Co, we’re aware that insolvent liquidation can mean that a company’s directors are liable for some of the costs. But when a responsive insolvency practitioner is appointed escalating situations are quickly contained and – ultimately – resolved. From the start, CG&Co provides clients with complete transparency over our costs so they always know where they stand.”
Edward Gee, Partner – CG&CO
For independent and expert guidance on insolvent liquidation, call CG&Co today on
0161 358 0210. Alternatively, click here.
