Sometimes when all other avenues have been exhausted, an insolvent liquidation may be the only appropriate way forward for your business.
This involves winding up the company, and realising (or selling off) its assets for the benefit of creditors. And at Moorfields, we’re here to help you every step of the way: wrapping things up properly and respectfully, so you can put the episode in the past.
No judgement, no hidden fees, no backing out. Just remarkable advice and support when you need it most.
Why work with Moorfields?
- Acted as liquidators of companies ranging from complex multinational groups to standalone owner-managed businesses
- We will always endeavour to work alongside stakeholders to maximise the return to creditors
- We can assist stakeholders in every stage of the process to ensure that it all runs smoothly
- Our fees are transparent, no surprises
There are two types of insolvent liquidation procedure:
Creditors’ Voluntary Liquidation
When the directors conclude that the company is insolvent and that there is no alternative to liquidation, they can convene a meeting of the shareholders and creditors. The shareholders will resolve to place the company into liquidation, whilst the creditors (by majority) will have the final say as to who will act as liquidator.
A creditor owed at least £750 may present a winding up petition to the Court. If the debt remains unpaid at the date of the Court hearing, the Court may grant a winding up order in respect of the company.