A court liquidation is a formal winding up of a company which involves the liquidator being appointed by the courts. The petition to wind up a company through the courts can be taken by a creditor of the company in response to the non payment of a debt. Alternatively the petition can be made by the company itself, with a view to preserving the assets of the company or saving the underlying business and jobs.
Crowe Horwath can assist through:
- Advising the creditor on the appropriateness of seeking a winding up of a debtor
- Advising the company on the appropriateness or otherwise of the official liquidation procedure
- Advising on the procedure of putting a company into liquidation
- Acting as the creditor / company’s nominee as official liquidator