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To wind up the affairs of an insolvent company by way of an application to the Court. The most common reason why a company is wound up by the Court is because it has failed to comply with the demands of an unsecured creditor. Appointment is made by an unsecured creditor.

Benefits

  • Allows creditors to wind up companies who have not paid their debts.
  • The Official Liquidator takes possession and control of the company’s assets for the purpose of realising the maximum amount for creditors.
  • The Official Liquidator investigates the company’s affairs to determine if there are any further assets to be realised or any other actions may be commenced. Such actions can include public examinations, trading whilst insolvent actions and voidable transaction recoveries