This is a liquidation that is ordered by the court, usually on the petition of a creditor, the company or a shareholder.
The matter in the first instance is dealt with by the Official Receiver's office. If there are sufficient assets, the Official Receiver may appoint a liquidator directly or convene a meeting of creditors for that purpose. However, the Official Receiver remains responsible for investigating the conduct of the directors and the company.
For further advice and assistance regarding any aspect of the above insolvency procedure, please contact BRI. We will discuss, free of charge, any further implications and alternatives with you. |
