Does your company have a few assets and you need a company liquidation?
At Dissolve, we understand that sometimes a small company must be liquidated but the Directors are concerned that if they appoint a Liquidator all of the assets of the company will be chewed up in liquidator’s fees. That is a valid concern because most registered liquidators will charge hourly rates and the Directors will have limited or no control over the approval of fees after the appointment of a liquidator (fees are approved by the creditors).
Where liquidation is needed we normally recommend a Creditors Voluntary Liquidation, or “CVL”, which is quick, simple and inexpensive. In many cases the liquidation is not complicated and so we can offer our Small Company Liquidation package. It is designed to be low-cost and easy to initiate.
Download our Small Company Liquidation Package here
So what will be the liquidator’s fee?
In the situation where a company has some assets, we can offer liquidation at NO COST TO THE DIRECTORS. All we need to do is establish that the assets of the company will be worth more than specific minimum amount and we will accept the appointment as liquidator with no requirements for the directors to pay our fees. What happens is that, as liquidator, we sell or realise the assets. Those funds are used to pay our fees, with the approval of creditors.
We are also happy to provide a FIXED FEE QUOTE for all standard liquidation services. It is sometimes necessary to exclude services for unexpected events but if an unexpected event arises we will call a meeting of creditors to explain any variations to our fee and obtain creditor approval.
So what is the “specific minimum amount” we mentioned above? It varies a little depending on the location and nature of the assets. Why not CALL US NOW and we can discuss the specific situation of your company and see if you can appoint us at no cost to the directors. At Dissolve we really do want you to call because if you can obtain a cheaper quote elsewhere we want to know about it so we can beat it.
When is the Small Company Liquidation Package appropriate?
It is appropriate when the company:
- must be liquidated;
- is trading or has recently ceased to trade;
- has some assets; and
- has less than 25 creditors.
What is included in the Small Company Liquidation Package?
Our Small Company Liquidation Package consists of:
- Free telephone advice to ensure a CVL is the correct solution;
- A Fixed Fee quote for all standard liquidation services;
- Our Guarantee to the Directors that they will not be liable for our fees;
- Preparation of the Appointment Package which includes all pro-forma directors meeting, shareholder meeting and other legally required documentation; and
- Assistance in the conduct of the Directors’ and Shareholders’ Meetings.