Liquidation

Liquidation is usually the last resort for a company, and after a company liquidation the company no longer exists.

If your company is being liquidated, it can be either a Compulsory (Forced) Liquidation or a Voluntary Liquidation, depending on the circumstances. Compulsory liquidation is when you have no choice in the matter, the courts have assessed that your company cannot continue to trade, and they make the decision. Voluntary Liquidation is as it sounds, An Insolvency Practitioner will wind up the company after approval from company members and creditors who also formally vote for the appointment of a liquidator.

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