Good Lawyer Guide's response

There are a number of things you need to do. Find a liquidator who can give you the right advice and support and decide whether you want to go back into business as this will impact on how the company is liquidated. Give your liquidator all the information relating to both the assets and debts of the company. The assets will be valued, their sale or auction arranged and the creditors will be contacted for you. The liquidator will also need all your company information so it can prepare the necessary reports for your creditors.

Eventually, a creditors’ meeting could be held to ratify the liquidation of your company. You will find it useful early on to draw up a list of all your assets and liabilities ready to give to the liquidator when you have appointed one. As soon as you have appointed a liquidator, communications with your creditors can go through the liquidator rather than you and this will relieve some of the pressure on you.