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Liquidations

Decide the best option for your company

Liquidation is a process used to wind up both insolvent and solvent companies. There are three frequently used types of liquidation and you can read more about each below.

At Deloitte Ireland our liquidation experts can help you to decide the best option for your company.

Creditors voluntary liquidation

For a free consultation to discuss any of the above issues in confidence, please contact: Warren Baxter: T +353 1 417 2625 or email wabaxter@deloitte.ie.

A creditors voluntary liquidation is frequently used by insolvent companies that have no reasonable prospect of survival. A company is insolvent when it is unable pay its debts as they fall due.

Liquidation can stop the company’s creditors’ position from deteriorating and bring closure to an unsustainable position for the company's directors, with all the attendant anxiety and stress. Since the directors’ powers cease upon liquidation, it is the liquidator who takes responsibility for selling the company's assets, distributing the funds to the creditors and dealing with the company’s employees.

Our approach to your challenge
We can guide you through all aspects of the Liquidation process by:

  • Assisting you in putting a company into liquidation
  • Acting as liquidator of the company
  • Providing a comprehensive service that is excellent value for money

We regularly act as liquidators for companies in all sectors of the economy.

Members voluntary liquidation

For a free consultation to discuss any of the above issues in confidence, please contact: Warren Baxter: T +353 1 417 2625 or email wabaxter@deloitte.ie.

Members Voluntary Liquidation is a process used to wind up a solvent company that has ceased trading or is dormant.

Advantages of a members voluntary liquidation:

  • Savings on ongoing audit and accounting costs
  • Savings in management time previously taken up with the preparation of financial information and tax returns
  • Reducing risk to the company and its directors by avoiding corporate memory loss. This can happen when a company is being inactively maintained
  • Often used as part of a corporate simplification process where a group wants to streamline its corporate structure
  • Can be a very tax efficient method of distributing cash/ assets to shareholders
  • Averts the danger of an inactive company being involuntarily struck off which can result in the loss of a company’s limited liability protection.

Our approach to your challenge
We can guide you through all aspects of the Liquidation process by:

  • Assisting you in putting a company into liquidation
  • Acting as liquidator of the company
  • Providing a comprehensive service that is excellent value for money

We regularly act as liquidators for companies in all sectors of the economy.

Court liquidation

For a free consultation to discuss any of the above issues in confidence, please contact: Warren Baxter: T +353 1 417 2625 or email wabaxter@deloitte.ie.

A Court Liquidation occurs when the High Court puts an insolvent company into liquidation after hearing a winding up petition. Such a petition is usually taken by a creditor of an insolvent company in response to non-payment of an outstanding debt.

A petition to place a company in liquidation can also be taken by the insolvent company itself.

The High Court can grant the liquidator the power to continue trading the company while he looks to sell the business. This can be a very effective way of saving the under-lying business and enabling the liquidator to maximise the sale price for the assets of the company.

It has the advantage of increasing the dividend payments to the company’s creditors and preserving jobs that would otherwise disappear.

Our approach to your challenge
We can guide you through all aspects of the Liquidation process by:

  • Assisting you in putting a company into liquidation
  • Acting as liquidator of the company
  • Providing a comprehensive service that is excellent value for money

We regularly act as liquidators for companies in all sectors of the economy.

How we can help

For a free consultation to discuss any of the above issues in confidence, please contact: Warren Baxter: T +353 1 417 2625 or email wabaxter@deloitte.ie.

At Deloitte, our experienced insolvency practitioners will ensure that, as liquidator, we obtain maximum value for our clients and that the liquidation progresses quickly, smoothly and cost effectively.

We regularly act as liquidators and have taken appointments across a wide range of businesses, from small enterprises up to large multi-jurisdictional corporations.

Free and confidential consultation: +353 1 417 2625

Warren Baxter

Warren Baxter

Director - Liquidations and examinerships

Contact me for a free and confidential consultatio...More

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Warren Baxter

Director - Liquidations and examinerships

People

David Carson

Partner - Forensic and Restructuring Services

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Our three Dublin offices are:

Earlsfort Terrace, Hatch Street & Hardwicke House

Dublin 2

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Phone: +353 1 417 2200

Fax: +353 1 417 2300

Email: info@deloitte.ie