Liquidations - Insolvent liquidations
Liquidation provides a mechanism for the formal winding up of a company in a controlled manner.
How we can help
At Deloitte, our experienced practitioners will act to realise assets for the benefit of creditors.
A liquidator will aim to:
- Dispose of the assets of the company
- Distribute the funds realised, according to the statutory order of priorities among the company's creditors.
If requested by creditors and other stakeholders our liquidators can:
- Perform extensive investigations into failed companies
- Examine the conduct of a company’s directors and senior management in order to establish the reasons for its failure.
Our experienced Directors and Partners have acted in a formal capacity to implement solutions for insolvent businesses. The types of appointment we can assist with include:
Jersey - Creditors’ Winding Up and applications to the Royal Court under Article 155 of the Companies (Jersey) Law, 1991. We have also assisted the Viscount in situations where a large trading company was placed en désastre.
Guernsey – Compulsory Winding Up and Administrations
Isle of Man – Creditors’ Voluntary Liquidation and Receiverships
Our previous appointments have included that of liquidators, administrators and receivers over a variety of businesses including regulated entities and trading companies. We also provide support to our UK and overseas colleagues in cross-border insolvencies.
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