Close Your Company – Voluntary Liquidation
It is the directors of a company that initiate a voluntary liquidation whether it is for a solvent or insolvent company, this decision must then be supported by the shareholders for it to be achievable.
Why Choose Voluntary Liquidation?
Richard Simms; licensed insolvency practitioner, explains how FA Simms can help solvent and insolvent businesses and under what circumstances you would choose a voluntary liquidation process.
Voluntary Liquidation options
- For a solvent company the correct procedure to enter is a Members’ Voluntary Liquidation.
- For an insolvent company the correct procedure to enter is a Creditors’ Voluntary Liquidation.
Please seek advice from a professional & qualified person
As both voluntary liquidation processes are formal procedures it will require a Licensed Insolvency Practitioner to be appointed by the company to perform the role.
Each option should only be undertaken once you have spoken to the Insolvency Practitioner that will handle the case as Liquidator. At FA Simms & Partners you will only ever by advised by the person who will be your liquidator.