Compulsory Liquidation in Devon

At Fast Insolvency, we offer professional support to directors whose companies are facing or undergoing compulsory liquidation in Devon.

This court-led process is triggered when a creditor petitions to wind up a company over unpaid debts.

Contact us now for free, confidential advice if your business has received a winding-up petition or is at risk of compulsory liquidation in Devon.

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What Is Compulsory Liquidation in Devon?

Compulsory liquidation in Devon is a legal process where the court orders a company to be closed and its assets sold to pay creditors.

This process begins with a winding-up petition filed by a creditor, often due to unpaid debts exceeding £750 in Devon.

Who Can Apply to Wind Up a Company in Devon?

Any creditor, shareholder, or director can apply, but most petitions come from creditors such as HMRC in Devon.

The court in Devon must be satisfied that the company is insolvent and unable to pay its debts.

What Triggers Compulsory Liquidation in Devon?

The most common trigger is non-payment of debt following a statutory demand, court judgment, or ongoing default in Devon.

Once a creditor files a petition, the court sets a hearing date to determine whether to grant a winding-up order in Devon.

What Happens After a Winding-Up Order Is Made in Devon?

Control of the company passes immediately to the Official Receiver in Devon, who investigates director conduct, closes the business, and arranges the sale of assets.

The company in Devon ceases trading and is eventually struck off the Companies House register.

Can I Stop Compulsory Liquidation Once It Starts in Devon?

Yes, but only before the court grants the winding-up order in Devon.

You can pay the debt in full, dispute the petition, or seek a Company Voluntary Arrangement (CVA) or administration to avoid liquidation in Devon.

What Are the Consequences for Directors in Devon?

Once liquidation begins in Devon, directors lose control of the company and must cooperate fully with the Official Receiver.

They may also face investigation in Devon, and if misconduct is found, they could be disqualified or held personally liable.

What Happens to Employees in Compulsory Liquidation in Devon?

All employees are automatically made redundant in Devon, but they may be eligible to claim unpaid wages, redundancy pay, and holiday pay from the government’s Redundancy Payments Service.

Will I Be Personally Liable for Company Debts in Devon?

Directors are not personally liable for most company debts unless they’ve signed personal guarantees or engaged in wrongful trading in Devon.

If the court finds misconduct, personal liability could follow in Devon.

How Long Does Compulsory Liquidation Take in Devon?

The process can take 12 to 24 months in Devon, depending on the complexity of the company and how quickly assets are realised and creditors repaid.

Will the Company’s Assets Be Sold in Devon?

The Official Receiver or liquidator in Devon will sell company assets, such as stock, equipment, and property, to repay secured and unsecured creditors.

What Is the Role of the Official Receiver in Devon?

The Official Receiver is appointed by the court to manage the liquidation in Devon.

They investigate the company’s affairs, sell assets, deal with creditor claims, and assess director conduct during the lead-up to insolvency in Devon.

Can I Trade After Liquidation Starts in Devon?

Once the winding-up order is made in Devon, the company must cease trading immediately.

Continuing to trade could result in personal liability for debts incurred after liquidation begins in Devon.

How Does Compulsory Liquidation Differ from Voluntary Liquidation in Devon?

Compulsory liquidation is court-enforced and usually creditor-led, while voluntary liquidation is initiated by directors and shareholders in Devon.

In voluntary cases in Devon, directors have more control and can appoint their own licensed insolvency practitioner.

Is the Liquidation Process Public in Devon?

Winding-up petitions and liquidation orders are published in the London Gazette and recorded at Companies House in Devon, making them accessible to the public.

Why Choose Fast Insolvency in Devon?

We provide immediate, expert advice in Devon for companies facing compulsory liquidation.

Our licensed professionals in Devon act quickly to assess your situation, stop legal action where possible, and help protect you as a director in Devon.

Get Free Compulsory Liquidation Advice Today in Devon

If your company has received a winding-up petition in Devon or you’re worried about compulsory liquidation, time is critical.

Contact Fast Insolvency now in Devon for free, same-day advice and take control before the court acts.

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