Process of liquidating a company Free sex chat with bangalore girls
Liquidation can also refer to the process of selling off inventory, usually at steep discounts.
It is not necessary to file for bankruptcy to liquidate inventory.
You may be able to claim redundancy pay (if you are a director who gets paid a salary through PAYE) as well as holiday pay and unpaid wages, however there are exceptions to this.
You aren't, lots of people think they are and end up in personal financial trouble. If the business has no future and very little cash, debtors or small asset values, get it into liquidation BEFORE it runs out of cash and assets to pay for the liquidation.
The shareholders then ask a licensed insolvency practitioner to call a creditors meeting as soon as possible (this can be done online, by phone or in person.
This must be not less than 14 days notice, but it is usually 21 or so days.
You can get on with a new business or job, the company is closed, leases cancelled and all the staff made redundant. He or she runs" the liquidation, fills out all the forms, calls all meetings and investigates the conduct of the directors before the liquidation happened. He then works out the debts and pays the creditors from the assets, if there were any. They MUST provide all of the company's books and records to the liquidator.
After this there is a creditors' meeting which a director must attend. You must comply with the liquidators request for information, it is a criminal offence not to do so.