A limited company is a separate legal entity. For example, if you are the director then you might think of the company as being a direct reflection of you, but this is not the case. A limited company can be bought or sold, or stop trading and close completely without having any effect upon you. You can carry on in business and start a new limited company even after being the director of a limited company that has gone into liquidation.Read more »
When an insolvency practitioner is appointed to deal with a business insolvency case, such as liquidation, administration or bankruptcy, part of our duties are to sell the assets to maximise the realisations for the benefit of creditors.
The first thing we have to do as insolvency practitioners is to make sure the assets are safe and are not at risk from theft or repossession.Read more »