A company is controlled by the Directors. When a company is insolvent (debts higher than assets/insufficient funds to pay outgoings), the Directors can make a decision to initiate the Liquidation, and arrange the appointment of Insolvency Practitioners who then deal with the Liquidation / winding-up.
The Directors duties and powers effectively cease once the Liquidators are appointed, and they can move on to new opportunities, (having learned a few lessons along the way).
The good news is that our Insolvency laws are (relatively) director friendly, drafted to promote a culture of entrepreneurship, to promote commerce by mitigating the financial and legal impact of a company failure.
But if there are issues with the Liquidator such as an overdrawn loan account, Direct Liquidation team of advisors are in place to support the director through the Liquidation process.
Our systems ensure the transition to Liquidation is seamless, legally correct, and cost effective.
Our technology provides an efficient liquidation service, at a fair price.
Direct Liquidation – setting standards
George Dylan Lafferty, Gordon Neil McIntyre and Penny McCoull are authorised to act as Insolvency Practitioners in the United Kingdom by the Institute of Chartered Accountants of Scotland. Insolvency Practitioners are bound by the Insolvency Code of Ethics when carrying out professional work on insolvency appointments.
Our privacy notice can be found at www.mclareninsolvencypractitioners.com