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Many people who face financial difficulties feel they have no choice
but to liquidate or declare bankruptcy. Sometimes this is true. But it's
important to understand that there are legal options as well as legal
obligations.
Working with creditors is critical at this stage. Survival is often best
for everyone, but it's only possible through understanding and co-operation.
If a company can't be saved then we look at ways to save the business.
We work towards the most positive outcome for all concerned.
(a) Members Voluntary Liquidation
If you have a company that is solvent that has reached the end of its
trading or useful life and you wish the shareholders to be repaid we can
simply and quickly arrange the solvent winding-up of the company and an
early return to shareholders.
(b) Creditors Voluntary Liquidation
If, unfortunately, your company is insolvent and there is no viable rescue
procedure and therefore no alternative other than to place the company
into liquidation, then we will explain to you your rights and obligations
and, in particular, ensure that appropriate action is taken immediately
to minimise the potential losses to your creditors.
Are you a creditor of a company contemplating a corporate insolvency procedure?
UK insolvency legislation is designed to help and assist limited companies
that have got into financial difficulty but, of course, these procedures
can be abused and we would naturally be pleased to consider and advise
you on specific cases as to your remedies.
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