Business Liquidation and Winding-Up Petitions
Winding-Up Petitions
Applying to the court and defending
Liquidation – this is when there is no way for the business to be saved and it is liquidated. If there is no other option than to end the business, the appointed IP/solicitor/accountant will implement insolvency proceedings and a Winding-Up Petition is drafted to begin formal insolvency and liquidation. Any financial assets are sold off and creditors are paid from any residual assets in a specific order.
In some cases, you will not want the company to be wound-up and as such we can assist by advising you as to whether an injunction application can be made to stop the creditor winding-up your business.
Not only can we advise on the process of insolvency procedures, we can help to identify where changes could be made and discuss the legal implications and solutions of each area of insolvency law, delivering to you a plan to help your business evolve or liquidate.
