It is a difficult time when your company is in financial distress, rather than dealing with the pressure alone it can be beneficial to seek the guidance of an Insolvency Practitioner (IP). With the guidance of an IP you can assess your company’s current situation and use their professional advice to understand what action you need to take.
Keeli MacMillan
Content Marketing Executive
August 7, 2024
Then let the Liquidation Centre help you navigate your company’s situation by taking advantage of our free no no-obligation company health check today.
Our team of in-house liquidation experts will:
An Insolvency Practitioner (IP) is a licenced professional who can legally advise and act on behalf of both solvent and insolvent companies during the liquidation process. As regulated professionals, IP’s are fully qualified, skilled liquidation experts and can offer a range of support for people like you, looking to close down their limited companies in a structured and timely manner.
A company cannot enter into a voluntary liquidation process without an IP being appointed. They are there to ensure that everyone involved adheres to the legalities of the liquidation, oversee the process in a professional and organised manner and that everyone involved is treated fairly.
Whether you are looking for a solvent or insolvent liquidation you will need to nominate an IP.
Prior to appointment, a licenced Insolvency Practitioner can offer you advice and guidance on what liquidation options are available to you based on your company’s financial situation.
During liquidation, an IP will conduct the liquidation process including (amongst other duties) getting the assets valued and sold, making payments to creditors, investigating the company’s affairs and the directors’ conduct (insolvent liquidation) and notifying parties such as Companies House and the Gazette.
If you are looking to speak to a licensed and professional IP today then contact The Liquidation Centre today. We are here to keep liquidations simple.
Yes. Insolvency Practitoners are regulated under the Insolvency Act 1986 and will undergo regular inspections.
Choosing the right IP is important as they will be your first point of contact and support throughout the process to begin the liquidation. Ensuring you are able to trust and understand your IP will ensure that your company’s liquidation commences with the least amount of stress possible.
When searching for the right IP ensure that you:
Companies with long-standing backgrounds have proven over many years that their IP’s understand and deliver a high-quality liquidation service. We have over 20 years of liquidation experience so you can be sure that we have the knowledge and expertise to guide you through.
If you know someone who has been through a liquidation they may be able to recommend an IP to you from their experience. You may find that you are offered recommendations from your accountant or other financial professional.
Our liquidation services are regularly recommended by accountants and previous clients so you can be sure of a high-quality you can trust.
Some companies offer insolvency and liquidation advice without being qualified or licensed to do so. A reputable and qualified IP will have their credentials available to view on their website or on request.
The Liquidation Centre’s IPs are regulated under the Insolvency Act 1986 and they all have completed their JIEB (Joint Insolvency Examination Board) set of examinations so you can trust their service and advice.
A respected liquidation company will have a host of online reviews for you to read about their IP’s personal and company-wide service. Visit our testimonial page.
In the first instance we will offer a free no-obligation call to assess your company’s situation. By speaking to an expert on the phone or in person you can establish whether they are the right professional to proceed with.