Can I purchase the business assets back from the Liquidator?

A very common question from Directors/Shareholders is whether they can purchase the business assets back from the Liquidator? And the simple answer is normally yes. However, prior to a Liquidator agreeing to any sale of the business assets, the Liquidator will need to have the assets professionally valued, normally by a Chartered Surveyor to ensure […]

How much does a Liquidation cost?

A frequent question we are asked at RPG Business Recovery is how much does a Liquidation cost? The answer depends on what is involved, for example how many employees that are employed, the level and number of creditors (who you owe money to) and what type of assets that are involved. In many cases, the […]

What is a Compulsory Liquidation also known as a CWU

Compulsory Liquidation is a Court driven process.  A creditor or director of a Company can issue a winding up petition to the Court and at a future hearing the Judge will decide whether the Company should be wound up and placed into Compulsory Liquidation. This process is more commonly used by HM Revenue & Customs […]

What is a Creditors Voluntary Liquidation also known as CVL

There are two types of Insolvent Liquidations and there are Creditors Voluntary Liquidation and Compulsory Liquidation. A Creditors Voluntary Liquidation is initially started by the Board of Directors concluding after taking advice from a Licensed Insolvency Practitioner that the Company is Insolvent. The Board holds a meeting convening meetings of Members (Shareholders) and Creditors for […]

Cheap Liquidation – the pitfalls

Should searching for a cheap liquidation on the internet be the same way you might search online to obtain the best price for an electrical appliance?  At RPG Business Recovery we believe a Director should take placing their Company into Liquidation very seriously given it may have serious ramifications for them personally if not planned […]

Can’t pay HMRC debt? Help with outstanding tax debt

Unable to pay HMRC debt (HM Revenue & Customs) for PAYE/NIC, VAT or Corporation Tax (CT)? Is HMRC chasing you for unpaid taxes? Is HMRC threatening to send bailiffs? Is HMRC threatening to issue a Winding Up Petition / place your Company into Liquidation? The first thing is not to panic and take immediate advice […]

Is my Company Insolvent or Bust?

Is my Company Insolvent or Bust should be relatively easy for you to conclude yourself. The formal test for Insolvency is defined in Section 123 of The Insolvency Act 1986: BALANCE SHEET TEST – Are the Company’s assets sufficient to cover the Company’s liabilities and CASH FLOW TEST – Can the Company pay their debts […]