What the liquidator does
The liquidator is an authorised insolvency practitioner who runs the liquidation process. Once a company appoints a liquidator, they take over control of the business from the directors.
They'll:
- realise the company's assets and use any money to pay creditors
- meet deadlines submitting statutory notifications
- pay liquidation costs and the final VAT bill
- keep creditors advised of the progress of the liquidation and involve them in decisions where necessary
- distribute funds to the creditors in the prescribed order of priority
- interview the directors and report on what went wrong in the business
- get the company removed from the Company Register
The liquidator acts in the interests of the creditors not the directors in both a:
Find a liquidator
You can find online an insolvency practitioner who is licensed to act as a liquidator.