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Going through a liquidation as a company director can be an extremely stressful time. This article breaks down the process and gives you an insight into what happens to a director of a company in liquidation.
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What happens to directors in a Creditors Voluntary Liquidation?
If you go through a Creditors Voluntary liquidation as a director, you will effectively lose your powers, as the control of your company will be passed over to an Insolvency Practitioner (IP).
This IP will oversee the liquidation process and sell off the companys assets to pay outstanding creditors. Yo…
Read the full article at: https://www.lancashirebusinessview.co.uk/latest-news-and-features/what-happens-to-a-director-of-a-company-in-liquidation