Liquidate Safely

 

STAY IN CONTROL

When the scale of debt, or hostile action is too great to save the current company, Interco’s priority is to keep the Director firmly in control and achieve the best possible outcome.

According to circumstance, we collect outstanding monies, arrange buy-back of assets and we regularise any matters which could cause the Director to be accused of acting wrongfully, disqualified, or made personally liable to pay the company’s debts.

In effect Interco acts as your “executive assistant”.

STOP WINDING UP ORDER?

If you receive a Winding Up Petition we help you act urgently to have it withdrawn, or its advertising postponed, while you meet the debt, or challenge the Claim, or opt to go into Creditors Voluntary Liquidation.

Once advertised, the Petition will freeze the bank account until a Court hearing, no assets can be sold and trading ceases immediately.

When a Winding Up Order is made, the Official Receiver investigates the conduct of the Directors and often appoints a Trustee to realise assets and recover book debts, This process can lead to the Director being disqualified and/or made personally responsible for company debts.

CREDITORS VOLUNTARY LIQUIDATION?

The most common form of voluntary closure is a Creditors Voluntary Liquidation (CVL). Important benefits are speed and staying in control.

We assess the company’s state of affairs, contact any creditors where advance discussion may be best, review your own status as a company creditor, or debtor and its implications and highlight any financial and accounts matters which may benefit from review or re-presentation.

Once our licensee colleague has initiated a “Section 98” meeting of creditors, we work with you to draft a statement which explains to creditors and the insolvency service why the company has been forced to close and we assist you at any meeting as expert advisor.

ADMINISTRATION?

Safe Closure – This may be all you are now looking to do. If so there are circumstances, especially where there are Debentures or Secured lenders, in which closure by Administration has benefits over a CVL.

Continuance – If you also wish to acquire the company’s goodwill and assets and re-start the business, we can assist you to restart a successful new Company . This may best be achieved simply by including purchase of assets and goodwill in the details of a CVL, or, again, by putting the company into Administration.

Advice  – whether stopping or continuing, please ask us to advise on how the CVL, or Administration, alternatives apply in your particular case.

Do you already face Winding Up proceedings? expect to go into  Creditors Voluntary Liquidation? or are you just wondering whether you should cease trading, contact us today for no obligation advice, or active assistance.

Do you already face Winding Up proceedings? expect to go into  Creditors Voluntary Liquidation? or are you just wondering whether you should cease trading, contact us today for no obligation advice, or active assistance.

Free, confidential, expert, advice.

0800 313 4331

Free, confidential, expert, advice.

0800 313 4331

Insolvency Solutions Ltd

Forum House – Stirling Rd – Chichester – PO19 7DN

1 Bromley Lane – Chislehurst – BR76LH

Insolvency Solutions Ltd

Forum House – Stirling Rd – Chichester – PO19 7DN

1 Bromley Lane – Chislehurst – BR76LH