Insolvency Solutions by Gregory Michaels & Co (UK)
Compulsory Winding-Up (By Court)
When is it used ?
This form of winding-up is instigated by a creditor who is owed £750 or more. The creditor takes
out a winding-up petition against the company through the courts.
How is it used ?
A petition is taken out and the Court will wind the company up.
Liquidator
The Court will appoint the Official Receiver in the first instance to act as liquidator. If the
company has assets he will either call a creditors' meeting or appoint a liquidator.
The role of liquidator
The liquidator's role is to realise the assets of the company and to distribute them to the
creditors.
Further Information on Insolvency
If you would like further information please telephone Kyp
Kyprianou on (0171) 723 1816
or email us at: gm@gmichaels.demon.co.uk
Gregory Michaels & Co, Chartered Accountants, Licensed Insolvency Practitioners
6 Southwick Mews, Paddington, London W2 1JG, U.K.
Tel: +44 (0) 171 723 1816 Fax: +44 (0) 171 706 2090
Return to Homepage.
or Useful Links