Liquidating business ireland


The liquidator is brought in to manage the liquidation process.Their main responsibilities are to take stock of the company’s assets and pay, if funds are available, a percentage to the creditors.



There are three types of liquidations: A creditors voluntary liquidation is normally initiated by the directors of an insolvent company.Insolvency You may be forced to consider liquidation because your company is no longer solvent.If the company remains solvent it can still be controlled by the directors of the company but when it is insolvent, you can place the company in control of a liquidator who will then deal with the aspects of the liquidation or winding up of the company.If a company has become insolvent and the directors consider that they are unable to return the company to a solvent position then they need to take professional advice and consider appointing a liquidator.



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