Independent Business Reviews
Formal Insolvency Appointments
Creditors' Voluntary Liquidation
This is appropriate when a company is insolvent and has no prospect of continuing to trade profitably in the future. A company can be placed into Liquidation and, if appropriate, at extremely short notice with the agreement of 95% of its shareholders.Whilst the above is a voluntary process, initiated by a company’s directors, it is a terminal form of insolvency. Accordingly, this process will ultimately result in the closure of the company’s business causing loss of all employment and the complete diminution in the value of its goodwill. It is a director’s last resort of having control over a company’s demise so that it can be completed in an orderly fashion by the appointed Liquidator.
Geoffrey Martin & Co. LEEDS T. 0113 244 5141 LONDON T. 0207 495 1100 E. info@geoffreymartin.co.uk