Liquidation is the most widely used formal procedure to wind up a limited company. It generally results in the business ceasing to trade, the realisation of its assets for the benefit of creditors and their subsequent distribution to the agreed or admitted creditors in accordance with statutory provisions.

The liquidation procedure differs depending on whether the company to be liquidated is insolvent or solvent.

Insolvent Liquidation

Insolvent liquidation can be voluntary or compulsory.

In a voluntary liquidation, the process is commenced by the company shareholders. The company may nominate a liquidator but creditors are entitled to put forward their own nominee.

In a compulsory liquidation, more popularly referred to as a Court liquidation, the liquidator is appointed by the High Court following presentation of a winding up petition by a creditor or the company itself or its shareholders.

RBK Corporate Recovery Partners have a wealth of experience in voluntary and Court appointed liquidations and provide expert advice for business owners, lenders and creditors on the options and procedures available.

For a confidential discussion about your specific requirements, please contact a member of our team.

Solvent Liquidation

A solvent liquidation, also known as members’ voluntary winding up, may be instigated for a number of reasons, such as:

  • extracting cash 
  • cessation of activities 
  • tax / succession planning 
  • restructuring

To avail of this method of winding up, a company must have sufficient realisable assets to discharge all of its debts within a prescribed timeframe.

Advice should be sought prior to commencing the liquidation to ensure that an appropriate strategy is adopted and to maximise the return on investment for shareholders.

RBK Corporate Recovery Partners act as liquidator in solvent liquidations for many multinational corporate entities across the financial services and property sectors as well as for private investors and stakeholders. Where appropriate, we draw on the expertise of our firm’s tax specialists at an early stage in the liquidation process to ensure that surplus assets are distributed in the most tax effective manner.

For a confidential discussion about your specific requirements, please contact a member of our team.

Team Members

Brendan O'Donoghue

Restructuring & Insolvency Partner

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David Gleeson

Managing Partner

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