Liquidation is a process used to bring a company’s life to an end. The company property is realised, the creditors paid out in a fixed order of priority and the surplus, if any, is distributed among the shareholders according to the constitution of the company or according to the Companies Act 1993. When these steps have been carried out the company is removed from the Companies Register.
Appointing a receiver enables secured creditors to protect their interests in the assets that constitute the security and, if necessary, to realise those assets to satisfy the debt owing to them. Appointment is by a person or business that holds a deed or general security agreement allowing them to appoint a receiver or the appointment may be by order of the Court.
We provide a service to mortgagees who find themselves in the position of having to deal with a mortgagor in default. We will take care of all aspects of the recovery of your mortgage. We will organise everything from the issue of a demand notice to, if required, the sale of the property by way of a mortgagee sale. Our aim is to provide a service that gives you the best possible outcome.