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Compulsory Liquidation

What is compulsory liquidation?

This is where the company is forced into liquidation by an unpaid creditor and the Court decides to wind the company up and appoint a Liquidator. Quite often the creditor pushing you down this route is HM Revenue and Customs.

It is good for;

  • The other side pays the costs of liquidation.
  • If you do not have any assets or anything left to save.
  • And you don’t want any control of the process such as being able to buy the assets back.

It is not good for;

  • Speed – as it can take three months or more to get into liquidation.
  • There is a fixed £6,000 fee plus 15% on assets realised.
  • Directors often find it intimidating being interviewed and questioned by the Official Receiver.

Email

david@kirks.co.uk

Phone

0808 1961496

Offices

Across the South West, London & Wales

Just a quick email to say a heartfelt thank you for your very calm, considered, expert advice regarding my circumstances on Tuesday. Things looked bleak before you explained my options much more clearly, in simple layman’s terms.
Rob Elliott (14th December 2021)

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David Kirk Portrait

David Kirk

Licensed Insolvency Practitioner