If your company is insolvent, and you want to limit your liability, liquidation is the simple solution.
There are three types of liquidation.
- Creditors’ voluntary liquidation - insolvent companies
- Compulsory liquidation - insolvent companies
- Members’ voluntary liquidation (MVL) – solvent companies where circumstances dictate that it should be wound up
If you think liquidation may be right for your company, speak with one of our licensed Insolvency Practitioners by phoning 0845 260 0101 for advice that is free and confidential (or 07714 099691 out of hours).
Why choose Frost Group
We will fully explain the range of possible options and recommend which we think is right for everyone concerned, and why.
Our nationwide company Liquidation service operates from our offices in Croydon, Bournemouth and London . If you want a speedy and cost effective Liquidation and are close to our offices in Croydon, Bournemouth and London we can arrange for an Insolvency Practitioner to see you within the hour.
Both Jeremy Frost and Patrick Wadsted can act as liquidators to liquidate your limited company quickly and professionally. This will stop creditor calls and help you, as directors, to start to plan and live your life again.
Using our expertise, we will help secure the best outcome for creditors and stakeholders, and we can continue to advise after the liquidation, including advice on new business ventures.
Creditors' voluntary liquidation
Where a company has more liabilities than assets or you cannot pay your debts or continue to trade you should usually liquidate via a CVL. It is a quick way to close a limited company and to stop creditors putting business owners under pressure.
The directors and shareholders place the company into liquidation and the creditors confirm their choice of liquidator. The liquidator deals with the assets and liabilities of the company sharing them out equally amongst each class of creditor.
A voluntary liquidation has many benefits and allows you to comply with your statutory and fiduciary duties in relation to the company, and it may be that the assets available within your company will pay the costs of the process.
If you want to minimise your business losses and personal risk talk to Jeremy Frost about company Liquidation in Croydon and Surrey, Patrick Wadsted about company Liquidation in London or Anthony Ford about company Liquidation in Bournemouth and Dorset.
A company is usually placed into a compulsory liquidation by a creditor who has got fed up with waiting to get paid and has exhausted every other avenue of recovery.
The creditor presents a winding up petition and, on the making of the winding up order, the official receiver is usually appointed as liquidator. He will investigate the circumstances of the failure and deal with the assets and liabilities.
If you have received a winding up petition
Frost Group are experts in turning around troubled businesses and are here to help you take back control.
We will talk you through all your options and apply for a validation order to unfreeze your bank account or wind up your business on your terms with a voluntary liquidation.
Whatever you decide to do, we will make the whole process as stress-free as possible, and you are assured of a professional service and expert advice.
Acting on behalf of creditors
We give free and impartial advice and our Insolvency Practitioners often act as liquidator on behalf of creditors in Croydon, London and Bournemouth.