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Company Liquidation in London

You may find yourself under pressure from a variety of creditors including the bank, vendors, customers, and even the economy. Just remember you have options for saving your company. One option is called company liquidation. If you have a business in London and find you need to have a company liquidation you will need to seek professional advice. One place you can find professional advice is Wilson Field. Thiscorporation has been established to help you plan ahead for problems as well as help when the problems arise.

They can advise you, identify your problems, and create a solution. Some solutions you may find are a company voluntary arrangement, administration, creditors voluntary liquidation, or compulsory liquidation.

For now we will concentrate on CVL and CL. These two types of liquidation vary in reasons. A compulsory liquidation means you have a court appointed liquidator to help you liquidate your assets and pay off your creditors. Most often your bank account is frozen and you are restricted from trading.

A voluntary liquidation means you still have control. While you can no longer trade and you will have a liquidator, you will be apart of meetings with your creditors to come to an agreement for solving your financial woes. In other words you are able to compromise with your creditors. You will be able to show how many assets you have, sell them off, and pay off your creditors in order of priority. You may be called upon to place some of your personal assets into the business in order to pay off your creditors.

When you go through a company liquidation you have two options. The most common liquidation for a company is creditors voluntary liquidation where you are responsible for paying of your debts in order of priority. You other option is a court appointed liquidation.

Written by James Bush. Find more information on Company Liquidation London

Source: www.isnare.com