Cost of liquidating a company

YOUR QUESTIONS The "I can't afford a liquidation" or "Cheap Liquidation" process - If I take the third option and instruct Purnells Licenced Insolvency Practitioners what do they actually do for me and my company? - We meet with you in person or by way of an hour or two's long telephone conversation.

During that discussion we complete an enquiry pack so as to fully understand your company's financial position.

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- Secondly and alternatively for a small fee we can send you a work plan, a work check list, standard letters and forms and a copy of the relevant Sections of the Companies Act 2006.

However we positively invite the creditors to petition for winding up of your company and even say that "we would be grateful if they would petition" -But in 99% of cases the creditors do not wish to throw good money after bad - particularly after they have had the financial position fully explained to them.

-To satisfy the requirements of Section 1006 of the Companies Act 2006 we also send the pack to all shareholders, directors, employees and to trustees of any pension fund.

Instead those documents are sent directly to Purnells and we reply to them on the same day.

-We review your company file each month after sending out the information pack to the creditors and then update you by email.

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