What is a Court Liquidation?
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 to enable the liquidator to sell the business. This can be a very effective way of saving the under-lying business and the jobs attached to it. It also allows the liquidator to maximising the sale price.
How can Deloitte help?
Our Court Liquidation experts 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, low cost, service that is excellent value for money
We regularly act as liquidators for companies in all sectors of the economy.