Creditors’ Voluntary Winding Up
Closing your financially distressed company.
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Creditors’ Voluntary Winding Up is an orderly process for closing a company which has unresolvable financial challenges. Shareholders of these companies can appoint a liquidator to take over and complete the winding up process. Our team can help by:
managing all interactions with company creditors
taking control of and selling all company assets
investigating and pursuing any legal claims which might recover funds
distributing all funds as required by law.
In broad terms the order of creditor repayment is firstly creditors with security over company assets, former employees and then all unsecured creditors. Monies returned to creditors are divided in proportion to the value of their claims, so that all unsecured creditors will get the same rate of return. Once complete, the company will be deregistered.