Liquidation – Insolvency and liquidation
Insolvency means you are unable to pay your debts when they are due. The Insolvency Act 1986 is the legislation that covers all personal and corporate insolvency issues in the UK. Some issues are also affected by the Enterprise Act 2002. The two pieces of legislation cover insolvency issues such as administration, bankruptcy, liquidation, individual [...]
Insolvency means you are unable to pay your debts when they are due. The Insolvency Act 1986 is the legislation that covers all personal and corporate insolvency issues in the UK. Some issues are also affected by the Enterprise Act 2002.
The two pieces of legislation cover insolvency issues such as administration, bankruptcy, liquidation, individual voluntary arrangements and company voluntary arrangements.
Liquidation is a way of dealing with corporate debts that you cannot pay when they become due. When a comp any is liquidated it is brought to an end, stops trading and ceases to exist. Any assets and property of the company are redistributed.
The Government’s Insolvency Service and the courts cannot advise you on specific insolvency problems. You should seek legal or financial advice about the insolvency options available to you.
More information
- Insolvency and bankruptcy
- Insolvency and administration
- Insolvency and individual voluntary arrangements
- Insolvency and company voluntary arrangements
- Liquidation – What is liquidation?
- Liquidation – The liquidation process
- Liquidation – Winding up a company
- Liquidation – Voluntary and involuntary liquidation
- Liquidation – The advantages of liquidation
- Liquidation – The disadvantages of liquidation
- Liquidation – The alternatives to liquidation
- Liquidation – I am owed money by a company in liquidation
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