During the twilight period directors are potentially at risk of incurring personal liability through the provisions of the Insolvency act 1986. This, together with the general fiduciary duties directors owe to a company, is usually the catalyst for the directors to make the decision to place the company into Creditors Voluntary Liquidation.
Directors are urged to seek advice quickly to determine the best course of action for them. If a liquidation is considered the most appropriate way forward we will assist in every way possible to ensure the directors are aware of their responsibilities, understand the implications and timing of the liquidation, and guide them through the legislation to ensure it is conducted in the interests of all parties.
Maximising the value of the company’s assets and distributing the cash to creditors is a complex area. Our specialists in insolvency and corporate recovery have extensive experience to achieve the right results.
For more information or to arrange your initial FREE consultation please telephone Adrian Simcox on (01902) 393007.