Company Liquidation in Colchester

How do you cease trading when you have an insolvent business on your hands?

A creditor’s voluntary liquidation could be the right move for you

Let McTear Williams & Wood help you find the right course of action

Call us now 0800 331 7417

When a director is looking at ending his relationship with a company, it may be the case that there is more cash in the business than debt. In such a situation the director can use a Member’s Voluntary Liquidation (MVL) to efficiently extract their funds. In the instance where the business does not have enough money to meet its obligations, a creditor’s voluntary liquidation (CVL) is the ideal way to enact a company liquidation. The business is dissolved and your creditors are paid out from the sale of your assets.

The need for a CVL is often caused by adverse business conditions, ranging from simple problems with cashflow through to sudden sweeping changes to the market or regulations. No matter what has led to your business distress, you have the option to appoint your own authority to manage your company liquidation.

McTear Williams & Wood is the ideal choice for helping you with you CVL. With numerous liquidations under our belts, we understand how to help you get the best out of the process and avoid personal liabilities.

How can we help you?

  • Free initial appointment - in the first instance we provide you with a consultation session to go through all the implications and obligations necessary for a company liquidation.
  • Review options for business recovery - even if you are insolvent, there may still be routes by which you can continue trading. We are able to help you understand how to close down your company and buy it back.
  • Calling a creditors meeting - one of the key steps in implementing a CVL is setting up a meeting with your business’s creditors in order to pass the resolution to allow the liquidation and to confirm the choice of liquidator.
  • Company liquidation - during the liquidation process McTear Williams & Wood will manage the sale of your assets, handle any legal matters and distribute funds to the creditors amongst other key responsibilities.

Why should you act now?

If you have been declared insolvent it is likely that your company’s value is rapidly depreciating. Through rapid action it is possible to ascertain the best price whilst still retaining your customers. McTear Williams & Wood is able to provide you with a quick resolution in such circumstances.

Why not find out how a CVL could work for your business? Arrange a free company liquidation consultation with McTear Williams & Wood in Colchester and we’ll assist you in understanding the full range of implications.  Call us now on 0800 331 7417