How to place a company into liquidation?

Placing a Company into liquidation is extremely quick and easy.

Notices needs to be prepared to convene a decision procedure of creditors. These notices consist of approximately six documents and are sent to the creditors and shareholders.

The decision procedures are usually held within a week or two of the date notices were signed.

It is the shareholders who decide to place the Company into Liquidation and they nominate a liquidator. The creditors also get the opportunity to ratify that appointment, or alternatively they can nominate their own choice of liquidator.

A Company can therefore be placed into liquidation within a week or two of instructing Purnells to do so.