4. What the liquidator does

The liquidator is an authorised insolvency practitioner who runs the liquidation process.

Find an insolvency practitioner through The Insolvency Service directory.

As soon as the liquidator is appointed, they’ll take control of the business.

They will:

  • settle any legal disputes or outstanding contracts
  • sell off the company’s assets and use any money to pay creditors
  • meet deadlines for paperwork and keep authorities informed
  • pay liquidation costs and the final VAT bill
  • bring together people owed money (creditors) and hold meetings where necessary
  • decide which creditors should be paid first
  • interview the directors and report on what went wrong in the business
  • get the company removed from the companies register

In a creditors’ voluntary liquidation, the liquidator acts in the interest of the creditors not the directors.

Interested in finding out more?

Get in touch with us now to find out how we can help.