Compulsory Liquidation

What is compulsory liquidation?

Compulsory liquidation (or winding up by the court) is a procedure by which the assets of a company are sold, and the proceeds are distributed to the company's creditors. A court order is required to put a company into compulsory liquidation. At the end of the liquidation, the company is dissolved. The most common reason for a winding up order is that the company is insolvent.

What does compulsory liquidation mean for a creditor of the company?

Looking to expand your business into a new market or territory? Then you should consider Distributorship and Agency

There are different ways to expand your business into a new market or territory. Two common methods are distributorship and agency. It is important to be aware of the key differences between appointing or being appointed as an agent or a distributor when considering how best to market, sell, or distribute your products.

Pre-packs explained

What is a pre-pack?

A pre-pack is the name given to an arrangement under which the sale of all or part of a company's business or assets is negotiated with a purchaser before the appointment of an administrator. The sale is completed by the administrator shortly after their appointment. This reverses the standard process, where the administrators start marketing the business after they have been appointed. The purchaser may be a competitor or, as is often the case, the existing management team.

What are the advantages of a pre-pack?