Can I use someone that isn’t licensed as a liquidator?
To undertake a formal insolvency process such as a Creditors’ Voluntary Liquidation or Members’ Voluntary Liquidation, you will need to use a Licensed Insolvency Practitioner.
A Licensed Insolvency Practitioner is the only person who can deal with a voluntary liquidation of your company.
You would be wise to speak directly to the Insolvency Practitioner who will act as liquidator of your company. If you don’t how else will you know what to expect once you’ve appointed them as liquidator. After all they will be responsible for your director’s conduct report in a CVL and will be in control of your assets in an MVL.
At Liquidation.co.uk we will only advise through our licensed insolvency practitioners who will also be your company’s liquidator. So call with confidence to speak to us.
Remember liquidators can only act in their personal names; no company can be a liquidator.
Beware Of Unregulated Advisors!
I’ve been offered Liquidation by a person who is not Licensed Insolvency Practitioners, what’s this all about.
Only Licensed Insolvency Practitioners can perform a Voluntary Liquidation. Many unregulated advisors are “finders” or “ambulance chasers” looking to make a fee for passing you as a lead over to an undisclosed Insolvency Practitioner.
Such “finders” will not be your liquidators and therefore they have no liability for the advice that they give. You might just be told what you want to hear and not the facts of a situation!
Beware ambulance chasers don’t always say what they mean. Speak only to the person who will be your liquidator.
So if you’re taking advice from someone who is not an Insolvency Practitioner then sit back and wait to be sold on!
Not only will you be poorly advised you will also pay the “finder” a fee and then pay the Insolvency Practitioner. Why pay twice?
Liquidation.co.uk do not use finders or ambulance chasers so don’t let anyone tell you that they are acting on our behalf.
Feel free to contact us if you would to discuss your company’s position with your liquidator.