Liquidation

To support directors during this challenging time, I ensure they have my direct contact details. I understand that questions and concerns can emerge outside regular working hours.

In this article, we will delve into the different scenarios that may lead to the closure of a limited company and examine the implications on directors, focusing on personal liability and director's loans.

Is it possible to liquidate a limited company and open a new one? Yes, it is, but it's essential to consider legal, financial, and practical implications.

Terms like "liquidation" and "bankruptcy" often find themselves intertwined, and they can sometimes be used interchangeably and lead to confusion. However, it's crucial to recognise that these are two different insolvency procedures for two separate legal entities with unique implications. In this article, we will delve into the differences between liquidation and bankruptcy.

Financial stability and a good credit rating are essential for individuals and businesses alike. When facing financial difficulties, the decision to opt for liquidation, a process that involves winding down a company and settling its outstanding debts, can have far-reaching consequences, including the potential impact on one's credit rating. In this article, we will explore how liquidation can affect your credit rating.

This article examines director liability after resignation. While day-to-day responsibilities cease immediately, liabilities for past actions persist, including insolvency-related debts, fraudulent conduct, director's loans, personal guarantees, and statutory obligations.