To liquidate under these conditions, shareholders must agree to pass the necessary resolution and to appoint a licensed insolvency practitioner to take control of the liquidation process.
Once appointed, the liquidator will realise any company assets for the benefit of the company’s creditors.
The liquidated company will cease trading and the liquidator will handle all outstanding matters including dealing with all employee and creditor queries.
Umbrella’s team of experts have a broad range of experience in commercial liquidations. For a free and strictly confidential consultation contact a member of the team. Call: 0800 611 8888 or email us.