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Liquidations
Liquidating or winding up a company is usually the last resort.
Liquidation results in:
- the company ceasing trading
- the selling off of all its assets
- the distributing of all money received between the creditors
A company can be put into liquidation by:
- the company directors
- a creditor
- certain third parties
The procedure involved in liquidating a company will differ depending on the basis of the liquidation. Different procedures apply to compulsory liquidation and members’ liquidation. An application to the court is needed and notices must be served on relevant parties. It is possible to object to a company being liquidated.
At Hart Brown our specialists will advise you on the best approach and what steps to take. We will also discuss with you alternatives.
To speak to someone who can advise on liquidation or any other legal matters relating to your business call, email or request a call back from one of our specialist lawyers.