What does ‘Winding up’ a company mean?

Whether this is a result of an order made by the Court or the resolution of the company’s own shareholders, when a company becomes subject to ‘winding up’ this means  a Liquidator, who will be a licenced Insolvency Practitioner, will deal with the realisation of the assets of the company and will be responsible for pursuing any claims in the name of the company whether that is against the company’s customers, directors or shareholders.

The Liquidator has a duty to investigate transactions entered into by the company in the last few years prior to its winding up to establish whether any claims against directors or other parties result from those transactions.

The remaining duties of the Liquidator and the remaining part of the winding up will thereafter be to identify and pay the creditors of the company.

If the liquidator is minded to investigate or pursue a claim against directors or associated companies, this can be a complex area and therefore you may wish to contact us regarding the particular circumstances of your company.

Chamberlain & Co realise that each assignment presents a unique set of problems which require innovative solutions. To talk to a member of the team, call 0113-242-0808 or click here to fill in our contact form.