Liquidation, or winding-up, is the formal closure of a solvent or insolvent company.
A solvent company can go through Members’ Voluntary Liquidation. An insolvent company can go through Creditors’ Voluntary Liquidation or the Court-driven process which is Compulsory Liquidation.
The directors and shareholders of a company can place the company into solvent or insolvent liquidation. Creditors of the company can apply to Court for a petition to wind up an insolvent company by Compulsory Liquidation.
Liquidators must be licensed Insolvency Practitioners and you can meet our team here.
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