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:

• creditors' voluntary liquidation
• compulsory liquidation

Find a liquidator

You can find online an insolvency practitioner who is licensed to act as a liquidator.