The creditors voluntary liquidation is generally commenced by the Directors of the Company and they will instruct a Licensed Insolvency Practitioner to assist in calling the meetings of the shareholders and the creditors and prepare the statement of affairs for presentation at the creditors meeting. The creditors meeting is generally called by giving 14 days notice to the creditors.
The members’ voluntary liquidations are generally controlled by the shareholders of the company. The shareholders of the company may have come to the conclusions that they no longer wish to continue trading but are in a position to pay all their creditors in full within 12 months of the date of passing the resolution to wind up the company.
Voluntary arrangements are arranged by an individual with his creditors to repay his debts over a period of time to avoid bankruptcy, or by a company when the Directors wish to continue to trade but the company is insolvent and are willing to pay its debts in full or in part but over a period of time.
Established in 1992, the firm specialises in insolvency and insolvency related matters. Therefore all clients are dealt with by experienced insolvency practitioners
We believe that people matter & our reputation is built on the principle of understanding, combined with an often innovative solution using the insolvency act of 1986.
The Richmond Partnership's aim is to provide an expert-lead value for money service designed to help businesses and their advisors achieve the most positive outcome possible.