No Asset Liquidation Package

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At Insolvency Solutions Group, we understand that sometimes a company must be liquidated, but often there are no assets remaining in the company to pay the liquidation fees.

We aim to minimise the cost and hassle to directors so we normally recommend a Creditors Voluntary Liquidation, or “CVL”, which is quick, simple and inexpensive. In cases where the liquidation is not complicated we offer our No Asset Liquidation package. It is designed to be low-cost and easy to initiate.

The No Asset Liquidation Package is appropriate when the company:

• must be liquidated;
• has ceased to trade;
• has no assets; and
• has less than 25 creditors.

Our No Asset Liquidation Package consists of:

• Free telephone advice to ensure a CVL is the correct solution;
• A Fixed Fee quote for all standard liquidation services;
• Our Guarantee in writing that the only fee they will be liable for is the Fixed Fee;
• Preparation of the Appointment Package which includes all pro-forma directors meeting, shareholder meeting and other legally required documentation;
• Assistance in the conduct of the Directors’ and Shareholders’ Meetings; and
• Completion of all standard “no asset” liquidation tasks from Statutory Reports to dissolution of the company.

What does the No Asset Liquidation Package cost the directors?

If there are no assets in the company then a prospective liquidator will ask the directors for an amount to be paid to a Trust Account to cover the minimum costs of the liquidation.

At Insolvency Solutions Group we have developed streamlined computer based systems which allows us to offer a very low cost liquidation option. Larger insolvency firms charge extra for small liquidations like these because they see them as a nuisance. Here at Insolvency Solutions Group, we built a business around doing smaller liquidations quickly and efficiently.

The fee can vary slightly depending on the company’s circumstances so why not call us now to obtain a free quote. We really do want you to call and get our quote because if you can obtain a cheaper quote elsewhere, we want to know about it so we can beat it.

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