What is Liquidation?
Liquidation is the legal process of closing down a company that cannot pay its debts. It is a significant decision for a director, so we start by looking at your company’s position with you and agreeing the outcome you want.
Assessment form
Complete our assessment form and attach your company registration documents and the directors’ IDs.
Consultation
We go through your company’s position with you and agree a plan of action and the outcome you are working towards.
Application
Once the plan is agreed, the liquidation is applied for, either through the High Court or by resolution, depending on your company’s circumstances.
How we work
We begin with a consultation to understand your company’s position. From there we put together a plan of action and agree the outcome you are working towards, and nothing is started until you have agreed to it. We are business people, and every process has to make economic sense.
When a company may need to liquidate
✔ The business is insolvent: its liabilities exceed its assets.
✔ The company cannot pay its creditors, or is struggling to pay trade creditors and the position will not improve in the short term.
✔ The business has stopped trading.
Frequently Asked Questions
Complete the liquidation assessment form and attach the company registration documents, copies of the directors’ IDs and proof of directorship. The form also asks for details of the company’s assets, creditors and debtors, so it helps to have your latest figures ready. The form has the email address to send it to.
It depends on your company’s circumstances, so we can’t give one figure that applies to every company. Ask us about your situation when you get in touch.
Yes. Confidentiality is one of our core values, and we treat everything you share about your company as confidential.
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Yes. Call or WhatsApp us on 060 526 3548, or send a message through the contact page.
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