Compulsory Liquidation

This type of Liquidation applies where a court has made an order to wind up a company. It is most commonly used by a creditor who is owed more than £750, but it can also be used by the secretary of state on public interest grounds or by shareholders who think it is just and equitable to wind up their company. The Official Receiver becomes liquidator but may, in time, be replaced by a Licensed Insolvency Practitioner.