Liquidator

Who is a Liquidator and what do they do?

A Liquidator must be a Licensed Insolvency Practitioner in order to be appointed on a formal company liquidation or business rescue process within the UK.

A Liquidators’ main job is to collect and sell any assets of the company for the purpose of being able to provide a dividend to creditors. The assets will be valued by an independent valuation agent to be sure that they are valued at a fair price.

 

Processes that a Liquidator can be appointed on

  • Members’ Voluntary Liquidation
  • Creditors’ Voluntary Liquidation
  • Company Voluntary Arrangement
  • Company Administration
  • Pre-Pack Administration

 

Duties of a Liquidator

If appointed a liquidator can help on the following matters during a company liquidation or business rescue process:

  • Dealing with company creditors
  • Collecting outstanding company debts
  • Dealing with company employees and assisting with their claims for Redundancy pay, notice pay, holiday pay and outstanding wages
  • Dealing with any company assets
  • Preparing all statutory paperwork

Only a Licensed Insolvency Practitioner can be appointed as Liquidator on a formal company liquidation or business rescue process in the UK. Please be aware of sales advisors or “ambulance chasers” who are employed to act as a third party agent between the limited company and the Insolvency Practitioner. They are not licensed and will request a fee for transferring you to a Licensed Practitioner.

 

We Can Help!

We have over forty years’ experience in helping Businesses. We will discuss your current situation and help you to understand all of the options available to you. We understand that this can be a stressful time and we will help to relieve the pressure.

 

Contact us today for free professional advice.