A liquidator is someone who is appointed when a company has to wind-up or goes into liquidation. They are responsible for collecting all of the assets of the company in liquidation, settling all claims against the company and finally putting the company into dissolution.

The liquidator’s main purpose is to convert any remaining assets into cash and pay as many creditors as possible with those funds, hoping to pay dividends too. However, some creditors may not see a return due to liabilities that outweigh the financial worth of the remaining assets. Liquidators ensure creditors are all treated in accordance with their legal rights. Here at Tony Jopson we can help you through the process, we cover all of Plymouth and Cornwall.

The liquidator should also investigate the causes of the company’s failure and the conduct of its managers, in the wider public interest of action being taken against those engaged in commercially culpable conduct. All our liquidatorsappointed to wind-up a failing business,in Plymouth and Cornwall, will act with professional efficiency.

The liquidator has a variety of tasks to complete, they are likely to:
• Sell all remaining company assets to maximise returns (with the asset value checked by independent valuation agents to ensure valuing at a fair price).
• Arrange payments for creditors using capital from company assets.
• Wrap up any outstanding contracts or legal disputes, as well as the final VAT bill.
• Complete all relevant paperwork to deadline and report to authorities.
• Communicate with creditors, keeping them informed and involved in decisions as appropriate.
• Settle liquidation costs.
• Interview and report on the factors that caused the liquidation.
• Remove the company from the Companies Register.

Please contact us for any further information and to discuss any aspects of liquidation.

For more information on our Insolvency services please click here.

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