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Avoid Insolvency And Going Through Liquidation Without Using An Insolvency Practioner
Interstingly, many directors are unaware that they can legally sell their company when it’s in a state of insolvency or struggling with liabilities, as an alternative to liquidation.
A company sale is straightforward, and depending on your timeline and urgency, completion can be in 24 hours, a few business days, or on any date required.
We are not insolvency practitioners or financial advisors, and we do not give advice.
No inolvency practitioner is involved in this process.
Understanding Insolvency & The Requirement for Liquidation
Corporate insolvency refers to the legal status of a Limited Company (Ltd) or Limited Liability Partnership (LLP) that owes more money than it can repay or is unable to pay its bills as they become due. In the UK, when a company is insolvent, directors are not allowed to simply close or dissolve the business.
Instead, the company must go through a formal liquidation process to address its liabilities. This process requires the appointment of a licensed Insolvency Practitioner (IP) to act as liquidator.
Whether through a Creditors’ Voluntary Liquidation (CVL) or a Compulsory Liquidation, using an IP is the only legal method for directors to close a company burdened by unmanageable debt.
Disclaimer: The definition provided above is for general information purposes only and is based on standard public definitions (Source: gov.uk). It does not constitute legal, financial, or insolvency advice. We strictly buy Ltd and LLP companies and do not offer professional advice.
The Legal Difference
We only buy your company. The process is straightforward, with a single fee based on the liability amount.
We Buy Your Company
When we buy your company, we are buying its shares; therefore, we are buying all its historical, current, and future debts and liabilities.
Not Your Business
When you buy a business, you buy its assets and goodwill. You are not responsible for any of the business's debts or liabilities before the takeover date.
Frequently Asked Questions from Directors
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No. We offer a professionally designed template that the seller can use to notify any creditors of the sale, and gives the contact details of the newly appointed directors.
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Under the UK Companies Act 2006, directors have the legal right to sell their company, even if it’s trading insolvent or struggling with debts
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The short answr is no. We have no interest in any assets or debtor book. This is purely a company sale.
Your free company sales guide contains information on the process, our legal team, director questions, time scale, and our fee.
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“Whatever it is, the way you tell your story online can make all the difference.”
“Whatever it is, the way you tell your story online can make all the difference.”
“Whatever it is, the way you tell your story online can make all the difference.”
“Whatever it is, the way you tell your story online can make all the difference.”
“Whatever it is, the way you tell your story online can make all the difference.”
“Whatever it is, the way you tell your story online can make all the difference.”
“Whatever it is, the way you tell your story online can make all the difference.”
“Whatever it is, the way you tell your story online can make all the difference.”