Compulsory & voluntary liquidation

We are highly experienced in acting in the formal liquidation of companies. This procedure may have been initiated either compulsorily or voluntarily; we have in-depth practical knowledge of the implications of each route.

In the case of compulsory liquidations, we represent either petitioning creditors or the liquidators ultimately appointed. 

A 'creditors voluntary' liquidation occurs when the company is insolvent and put into liquidation by its shareholders. A ‘members voluntary’ liquidation is the liquidation of a solvent company initiated by the shareholders.

In both these circumstances, our clients are typically the insolvency practitioners appointed as liquidators. We assist them in the formalities involved; we also advise on ways and means of increasing the company’s assets in liquidation and (in the case of insolvent companies) assess whether it is appropriate to bring actions against the company directors for wrongful or fraudulent operations.

Recent work 

  • Representing the liquidators of MT Realisations Ltd, who commenced proceedings after the company wrongfully borrowed money to buy shares in its parent company.
  • Acting in the liquidation of a major electronics company, AKAI Holdings, in Hong Kong and Bermuda; our involvement included the commencement of proceedings to recover US$50m.
  • Assisting a large creditor of Westbond International Bank Ltd, an Antiguan bank in liquidation. Tracing remedies were used to recover assets (such as yachts) acquired by third parties, and money that had been fraudulently removed from various accounts at the bank.

You are now leaving Withersworldwide and visiting Withers Consulting Group (WCG) website. Please note WCG does not offer legal services and is therefore not regulated by the Solicitors Regulation Authority or other regulating body. WCG works independently of Withersworldwide. For further information please see WCG's +Regulatory Notice +