Liquidate your company’s assets with a company bankruptcy. When your debts are greater than your assets, your company is officially insolvent. Avoid increasing your personal liability as a director with a company bankruptcy, which allows you to effectively terminate your responsibilities.
By choosing a company bankruptcy, you have the option to appoint your own liquidator, who will work with you to sell off the assets of your business. The funds generated are used to satisfy the claims of your creditors before the company is fully shut down. Many directors often choose to buy back their business and assets and relaunch under a new name once the debt has been shed. Over the years McTear Williams & Wood has helped many companies with this process and are hence in the perfect place to assist you with such a process.
Find out more about all the paths of action available to you with one of our company bankruptcy advisors at our Ipswich offices. This gives you an overall picture of your choices together with a professional view on the best next move for you and your company.
If you are thinking of going through a company bankruptcy this could be an extremely difficult time in your business life as a director. However, there could still be a number of options available to you.
Act now to find out all the facts about your current situation. However, be aware that as creditor pressure mounts, some options will close off to you in the course of time. Call us now to discuss your company bankruptcy at our Ipswich offices. Contact McTear Williams & Wood today on 0800 331 7417