Compulsory Liquidation in Somerset

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

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 Somerset.

Get in touch

What Is Compulsory Liquidation in Somerset?

Compulsory liquidation in Somerset 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 Somerset.

Who Can Apply to Wind Up a Company in Somerset?

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

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

What Triggers Compulsory Liquidation in Somerset?

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

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

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

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

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

Can I Stop Compulsory Liquidation Once It Starts in Somerset?

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

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

What Are the Consequences for Directors in Somerset?

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

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

What Happens to Employees in Compulsory Liquidation in Somerset?

All employees are automatically made redundant in Somerset, 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 Somerset?

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

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

How Long Does Compulsory Liquidation Take in Somerset?

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

Will the Company’s Assets Be Sold in Somerset?

The Official Receiver or liquidator in Somerset 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 Somerset?

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

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

Can I Trade After Liquidation Starts in Somerset?

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

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

How Does Compulsory Liquidation Differ from Voluntary Liquidation in Somerset?

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

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

Is the Liquidation Process Public in Somerset?

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

Why Choose Fast Insolvency in Somerset?

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

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

Get Free Compulsory Liquidation Advice Today in Somerset

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

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

Get in touch