Dissolution of a company following compulsory liquidation or creditors' voluntary liquidation


Published by a ³ÉÈËÓ°Òô Restructuring & Insolvency expert
Practice notes

Dissolution of a company following compulsory liquidation or creditors' voluntary liquidation


Published by a ³ÉÈËÓ°Òô Restructuring & Insolvency expert

Practice notes
imgtext

Compulsory liquidation or winding up by the court

Where the Official Receiver is appointed

On the making of a winding-up order by the court, the official receiver (OR) is appointed as liquidator.

When the OR has completed their enquiries and is satisfied that the winding up is for practical purposes complete, they may submit a notice to the registrar of companies stating that the winding up by the court is complete. Completion of a winding up occurs when the liquidator gets as far as they can to wind the affairs of the Company up.

The company will be dissolved three months after the notice is registered by the registrar of companies.

In accordance with Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024, r 7.70, the OR must deliver notice of intention to dissolve to creditors before giving notice to the Secretary of State under section 174(3) of the Insolvency Act 1986 (IA 1986) that the winding up is for practical purposes complete.

The notice must be accompanied by a

Karl Anderson
Karl Anderson

Barrister, 4 Stone Buildings

Karl is a barrister with a broad commercial chancery practice. He is frequently instructed on matters relating to banking and finance, restructuring and insolvency, company law, civil fraud, and general commercial disputes. He often appears, both on his own and as part of a larger counsel team, in the High Court and the County Court.
 
Examples of recent reported cases include Autonomy Corporation Ltd v Lynch [2022] EWHC 1178 (Ch) and General Electric Company v AI Alpine US Bidco Inc [2021] EWHC 45 (Ch).
 
Karl is also a contributing editor to Zuckerman on Civil Procedure 4th Ed. (2021) (Sweet & Maxwell) and a contributor to Loose and Griffiths on Liquidators 9th Ed. (³ÉÈËÓ°Òô® 2019).

Read moreRead more
Powered by Lexis+®
Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Dissolution definition
What does Dissolution mean?

The bringing to an end of a valid civil partnership between two people of the same sex

Read more readmore

Popular documents

What is a statutory declaration of solvency and what happens if a false declaration of solvency is made?

What is a statutory declaration of solvency and what happens if a false declaration of solvency is made?Statutory declaration of solvencyA company enters voluntary liquidation when its members vote to do so by a special resolution. For further information, see Practice Note: What is a members’

Failure of the company voluntary arrangement (CVA)

Failure of the company voluntary arrangement (CVA)There is no definition of ‘failure’ of a company voluntary arrangement (CVA) in the Insolvency Act 1986 (IA 1986). It does not explain when failure will take place, or what its effect will be.However, IA 1986 does recognise that an arrangement may

A company subject to a winding-up petition settles the petition debt prior to advertisement and agrees

A company subject to a winding-up petition settles the petition debt prior to advertisement and agrees with the petitioning creditor that an order will be sought at the hearing dismissing the petition. Notwithstanding non-advertisement of the petition, if a third party creditor indicates its

Can you wind-up a company when the debt is disputed?

Can you wind-up a company when the debt is disputed?It is a long-established principle that winding-up proceedings should not be commenced where the petition debt is genuinely disputed on substantial grounds. If a purported creditor attempts to do so, the court can invoke its inherent jurisdiction