Corporate Recovery & Insolvency

Creditors' Voluntary Liquidations

Where a rescue is not possible, we assist the directors of insolvent companies with the formal liquidation process.

Insolvency legislation places the responsibility for ensuring correct procedure is followed with the directors. We assist directors to fulfill their obligations. This involves helping the directors to prepare the Statement of Affairs and other documentation to be presented to the formal meetings of shareholders and creditors. As part of this process all known creditors will be contacted and asked to submit their claim.

During the period after being instructed but before the company is placed into liquidation we will advise directors on the correct course of action to take in any circumstances.

The liquidator is then formally appointed by the shareholders of the company and creditors normally ratify the appointment at the subsequent creditors meeting. The liquidator then deals with the realization of assets and distribution of proceeds to creditors.

The liquidator also has a duty to investigate the affairs of the company and conduct of the directors prior to his appointment. The liquidator is then obliged to report his findings to the Disqualification Unit of the Department of Trade and Industry.

Insolvency

• Creditors' Voluntary Liquidation
  
• Members' Voluntary Liquidation
  
• Company Voluntary Arrangements
  
• Administration Orders
  
• Receivership
  
• Individual Voluntary Arrangements
  
• Trustee in Bankruptcy
  
• Advice to Debtors
  
• Informal Arrangements
  
• Advice to creditors