Liquidation is the point at which a limited company is legally ended. It is a formal process during which assets of the company are sold for the benefit of creditors and the company is dissolved. A liquidation may be solvent or insolvent – while the term is most commonly associated with a business that is insolvent and cannot pay its debts, liquidation may also present an opportunity to walk away from a thriving enterprise and extract the profits. However, it is a final and formal process and expert advice is necessary, whatever the reason behind the liquidation.
At Mercantile Barristers, we provide strategic and tactical advice throughout the process of liquidation and have worked with liquidators and creditors, as well as companies that are the subject of liquidation. Our involvement may be as simple as issuing a Winding-Up Petition on behalf of creditors and negotiating distribution of assets so that our clients receive a fair settlement. Or it may require extensive court time, for example for on behalf of company directors looking to prevent a business from being dissolved.
The process of liquidation requires skilful management, both for creditors and debtors, as well as careful preparation and committed and strategic action. Our Insolvency barristers provide expert legal support that is designed to effectively and swiftly achieve desired outcomes.
Communicative, a sense of responsibility and I absolutely feel they are an ally. Highly recommended
During a time of intense business troubles Mercantile guided me through and helped me keep perspective. I am now on a path to having the business in a much better place and many thanks are due to Samuel & his team.
Professional, Flexible And Great Service, Very Satisfied. Highly Recommend.
Have Found Mercantile, To Be Honest, Diligent And Willing To Go The Extra Mile With Their Advice.
Exceptionally balanced and sound advice. Strongly recommend Firm.
We were most impressed with Mercantile Barristers and your friendly, prompt and expert services. We think we were most fortunate to benefit from Samuel Okoronkwo's expert knowledge, clear analysis and wise advice.