Company Liquidation

Can HMRC Liquidate A Company? HMRC has the authority to force a company into liquidation if the company fails to pay taxes or is found to be engaging in tax fraud. This power is particularly concerning for businesses that struggle to meet their tax obligations. The procedure for HMRC-initiated company liquidation involves warning letters, bailiff…

How Can I Stop A Creditor Putting My Company into Liquidation? As a company director or business owner, the threat of creditors initiating compulsory liquidation is an ever-present concern. Failing to address this issue can result in severe consequences for your company, employees, and personal reputation. Ways to stop a creditor from putting your company…

Can I Adjourn Or Stop A Winding-Up Petition? Your company is able to adjourn the winding-up petition while establishing the CVA. Once in a CVA, your company will halt the winding-up petition and terminate any further court proceedings. Provided your company maintains its regular repayments, it will be safeguarded against compulsory liquidation. Understanding the intricacies…

My Company Has Been Issued with a Statutory Demand Facing a statutory demand is daunting for any company, as it signifies a turning point in the business’s financial stability. We will equip you with the knowledge and tools to effectively manage a company with statutory security demands and safeguard your company’s future and security. Understanding…

Advantages and Disadvantages of Creditors’ Voluntary Liquidation Creditors Voluntary Liquidation (CVL) is a popular method for resolving business insolvency, but is it the right choice for your company? Creditors Voluntary Liquidation offers cost-efficiency, control over the process and potential asset repurchase opportunities. Reputational damage, asset loss and director investigations are potential drawbacks of a CVL.…

What Happens to My Overdrawn Director’s Loan Account in Liquidation? The liquidator will demand repayment if your director’s loan account is overdrawn during liquidation. If you don’t repay, they will take legal action, potentially leading to bankruptcy. An overdrawn director’s loan account could lead to serious financial and legal consequences. This scenario is common, and…

What is the Role of the Official Receiver in a Liquidation? When a company faces liquidation, the process can be daunting and confusing for all parties involved. One of the key figures in this complex procedure is the Official Receiver. But who exactly is this individual, and what is the role of the official receiver…

Can You Liquidate a Company For Free? Are you facing the daunting task of liquidating a company with no money? You’re not alone. Many company directors find themselves in this situation and wonder, can you liquidate a company for free? Directors can liquidate their company through Administrative Dissolution, or “striking-off.” This process allows directors to…

Liquidating a Company with Outstanding Personal Guarantees Personal guarantees are legally binding agreements where an individual takes responsibility for a company’s debts. They are crucial in company liquidation and must be understood and managed carefully. Liquidating a company with outstanding personal guarantees can have significant implications, including personal liability for debts. Exploring options for cancelling…