Corporate liquidation is a serious business and should involve a qualified professional to help.
Corporate liquidation in London describes the means by which a corporation or limited company is closed owing to insolvency.
The last quarter of 2008 saw 3,000 businesses go into corporate liquidation and this was a 62 percent rise on the last quarter of 2007. 2,000 companies went into administration during the same quarter. The sharp increase in the rise of this is very marked, and reflects the fact that the costs of company liquidation have gone down a great deal; in fact it was a very rarely used procedure prior to the decade before that, again mainly due to cost.
It is far less costly these days as insolvency practitioners and associated professionals have lowered their fees in line with new, simplified procedures which have recognised the need to preserve businesses rather than lose viable going concerns where they could be saved in some form. The old cumbersome process is no longer anywhere near as laboured or as costly, and the rise in the relative numbers of businesses going into corporate liquidation has been because of that.Practitioners and businesses alike now realise the value of things like pre-pack administration to preserve assets, directors’ remuneration and employee’s jobs as part of a corporate liquidation.We can set up a new company as required, find the funding and draw up all the legal requirements without any cessation of trading: the new company will arise phoenix-like from the old. We have expertise in doing this which will ensure the least disruption of service from everyone’s point of view.We can also provide funding to buy new assets, if necessary, and part of that refinancing (we have access to the best sources of finance) could be used to fund the company liquidation itself, so the costs of the liquidation will not be burdensome. Other things like company debts will be restructured or even partially or wholly written off so that the new company may trade unhampered by its old debts.
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