Insolvency, Bankruptcy and Restructuring Practitioners

Insolvencies

insolvenciesLIQUIDATION

Our team of insolvency professionals regularly work on various types of liquidations including:

  • Voluntary liquidations
  • Company liquidations by the Court
  • Strike off of companies

Voluntary liquidations

When shareholders of a parent company no longer require a company, they will, often, close it through a Voluntary Liquidation, provider of-course the company is solvent.

INSOL can assist in all stages of the liquidation process. We are regularly appointed Liquidators in order to collect assets and pay liabilities in a timely and orderly manner and distribute any balance to the rightful shareholders and contributors.

Compulsory liquidations

The court may on the petition of, usually, creditor order the winding up of a company compulsorily. This is, usually, the result of a company being unable to Pay its debts. INSOL is usually appointed Liquidator,  in order to initiate and complete the liquidation by:

  • Taking possession and protect assets
  • Proceed with payment of creditors
  • If balance of assets remain after payment of all creditors such balance is returned to shareholders.

INSOL is also in a position to assist Directors of companies under compulsory liquidation, to prepare the Statement of Affairs of the company for submission to the Official Receiver within the time specified by law in order to avoid unnecessary civil and criminal penalties.

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