LIQUIDATION SERVICE IN LIVERPOOL
Insolvency Practitioners in Liverpool
The insolvency of a company can be a stressful and difficult time for company directors. If a company is insolvent and has no realistic prospect of returning to solvency then the company should consider the commencement of an insolvency process.
A company is insolvent if either of the following exist:
• The company’s liabilities exceed its assets
• The company cannot pay its liabilities as and when they fall due
Creditors Voluntary Liquidation – CVL
If your company needs an insolvency process, the most commonly used process is liquidation, a CVL.
This is where the responsible company director recognise that the company is insolvent, and to ensure that liabilities do not continue to accrue, ceases to trade.
At this point, with the assistance of an insolvency practitioner, the director will take the necessary steps to recommend to the shareholders that the company be wound-up voluntarily. Following the winding-up resolution being passed by the shareholders, and the company’s creditors ratifying the choice of liquidator, the appointed liquidator will realise the assets of the company.
The liquidator’s primary function is to maximise the level of these realisations for the benefit of the company’s creditors, in order to repay creditors as much of their debt as possible.
How can we help?
If you think that your company may need a voluntary liquidation and you need a liquidation service in Liverpool or surrounding areas then please contact SPK Financial Solutions now. We recognise that that this can be a daunting prospect, but we are extremely well experienced in all insolvency matters and in assisting businesses through an insolvency process.
We will assess whether a liquidation, or alternative insolvency process, is the correct course of action for your company and make our recommendation accordingly. We will guide you through every step of the way, ensuring that you are fully compliant with your duties as a director and that the necessary process is gone through in the most efficient and cost-effective way possible.
Please call us now to arrange a free, no commitment, confidential consultation.