Category: Compulsory Liquidation | Posted on: 21st June 2021
Compulsory Liquidation Compulsory Liquidation is the forced liquidation of an insolvent company by the courts. It happens in cases where, because a company cannot pay its debts, one or more of its creditors request through a winding up petition that the courts enforce the liquidation (or winding up) of the company’s assets to repay the …
Category: Liquidation | Posted on: 18th June 2021
Winding up a company Winding up a company, in its simplest form, means to stop trading, liquidate your assets and close your limited company, striking off the company from the register at Companies House. Winding up a company is also known as liquidating a company. When you wind up a company, you use the assets …
Winding up a company – what does it means & what are the benefits? Read More »
Category: Insolvent liquidation | Posted on: 9th June 2021
Benefits of insolvent liquidation. What are the advantages and disadvantages of insolvent liquidation? Facing insolvency is a difficult and often stressful time for business owners and company directors. But believe it or not, there are benefits of insolvent liquidation. We explore them for you below and look at why these benefits of insolvent liquidation might …
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Category: Liquidation | Posted on: 8th June 2021
Solvent liquidation vs insolvent liquidation What’s the difference between solvent and insolvent liquidation? To look at solvent liquidation vs insolvent liquidation, we first need to look at a commonly asked question: ‘What’s the difference between solvent and insolvent liquidation?’ The main difference between solvent and insolvent liquidation is that each is used in a different …
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Category: Solvent liquidation | Posted on: 3rd June 2021
Reasons to liquidate a solvent company. When is a solvent liquidation required to get the maximum profits back from your company? A solvent liquidation can occur when a company needs to be closed for reasons other than insolvency. Example of the reasons to liquidate a solvent company include: it was created to meet short-term demand or …
Category: Insolvent liquidation | Posted on: 2nd June 2021
Causes of business insolvency-what are the reasons for insolvency Causes of business insolvency A business is deemed to be insolvent if it can’t pay its creditors on time or in full, now or in the future. There are many common causes of business insolvency, which we explore below. Our business rescue experts and licensed insolvency …
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Category: Liquidation | Posted on: 31st May 2021
What is a Liquidator in corporate accounting? Corporate accounting is a specialist branch of accountancy that deals with the accounting for companies. A Liquidator in corporate matters will work closely with the accountant to advise and take action to rescue a business from insolvency or, if that’s not possible, close the company through liquidation. The …
Liquidator in corporate accounting – why you must have one. Read More »
Category: Liquidation | Posted on: 30th May 2021
The advantages and disadvantages of liquidation The most common type of liquidation is a Creditors’ Voluntary Liquidation (CVL). This is a formal insolvency process that’s taken by the directors of a company. The advantage of liquidation as a CVL is that it’s voluntary, as suggested by the name. It’s also possible for a compulsory liquidation …
Category: Liquidation | Posted on: 27th May 2021
The different types of liquidation If your company is no longer needed or viable to continue to use, seeking advice from insolvency practitioners to understand what different types of company liquidation are available is the fundamental first step to successfully liquidating your company. Getting the best outcome for yourselves and anyone potentially owed money by …
Category: Liquidation | Posted on: 24th May 2021
Liquidation of a company – process and advice Before you make a decision about which liquidation process is right for your company you must determine whether your company is solvent or insolvent. There are two tests that are a good indicator of a company being insolvent: The Balance Sheet Test – If the company liabilities …
