Limited Company Liquidation
Close down an insolvent limited company
OTHER TYPES OF LIQUIDATION
Members Voluntary Liquidation (MVL)
If a Company can pay all its debts but needs to cease trading a Members Voluntary Liquidation (MVL) may be appropriate. A Members Voluntary Liquidation (MVL) is a Voluntary procedure to wind up the business of a Solvent Company.
The Members of the Company are the shareholders. To be classed as Solvent, the Company must be able to pay all its debts and the costs involved in winding up, within 12-months. A Members Voluntary Liquidation (MVL) is typically used where the shareholders of a Company wish to retire or close their business for any other reason than debt problems.
Compulsory Liquidation is a process of winding-up an Insolvent Company through the Courts. The winding-up process is usually initiated by one of the company’s creditors once they have been unable to recover money owed to them through all other channels. Typically, as a last resort a creditor would apply to the Court for a Winding-Up Petition. In these situations, the Directors conduct will be investigated.
If your company is forced into Compulsory Liquidation, it can be more difficult to defend against allegations of Wrongful Trading.
ANDERSON BROOKES GROUP
Anderson Brookes Ltd is a limited company registered in England and Wales; the company registration number is 4213701. Anderson Brookes Ltd is Authorised and Regulated by the Financial Conduct Authority (FCA); our FCA registration number is 669796. You can confirm our details on the FCA website www.fca.org.uk. Data Protection: our ICO registration reference number is Z5595675. Anderson Brookes Ltd does not administer ‘debt relief orders’, ‘debt management plans’ or handle ‘client money’. In the event we believe a debt management plan or debt relief order may be the most suitable debt solution we will provide you with the contact details of a reputable, non-fee charging organisation. The Money Advice Service are an independent service, set up by government to help people make the most of their money, they give free, unbiased money advice to everyone across the UK – online, over the phone and face to face. You can visit Money Advice Service at www.moneyadviceservice.org.uk
Anderson Brookes Insolvency Practitioners Ltd is a limited company registered in England and Wales; the company registration number is 10324159. Laura J Prescott and Brendan P Hogan are licensed to act as Insolvency Practitioners in the UK by the Insolvency Practitioners Association. Licence Numbers 15010 and 13030 respectively. Our VAT Registration Number is 249 5912 70. Data Protection: our ICO registration reference number is ZA201949. Anderson Brookes Financial Services Ltd is a limited company registered in England and Wales; the company registration number is 08660228. Data Protection: our ICO registration reference number is ZA123471. All group companies are registered at 4th Floor, Churchgate House, Bolton BL1 1HL
Anderson Brookes Insolvency Practitioners Ltd operate a complaints procedure. In the first instance, please call 01204 255 051 or email firstname.lastname@example.org to request a copy of the complaints process. If we are unable to deal with your complaint to your satisfaction, your complaint should be made to the Insolvency Complaints Gateway by visiting their website https://www.gov.uk/complain-about-insolvency-practitioner and completing and submitting their online form. Alternatively, you can print the form from their website and send it by post to The Insolvency Service, IP Complaints, 3rd Floor, 1 City Walk, Leeds, LS11 9DA or contact them by telephone on 0300 678 0015 (Monday to Friday 9am – 5pm).
Some of the services provided by Anderson Brookes are not regulated by the Financial Conduct Authority. Some of the debt solutions we provide advice on are only available in England and Wales; Anderson Brookes does not provide services outside England and Wales. Anderson Brookes is a commercial, profit seeking organisation; depending on the services provided, fees may be payable. Any fees applicable will be confirmed to you in writing before any chargeable work is completed. Anderson Brookes operates a complaints policy; if you are not happy with the way we have dealt with you or your case, please ask us for a copy of the policy.