Liquidating a company dating a scottish man
By contrast, an insolvent company can be wound up by the court or by a creditors' voluntary winding up.This last method is called a creditors' voluntary winding up because, while the company's members decide whether to appoint a liquidator, it is the creditors who decide whether a liquidator will stay involved in the company.
If the claim is rejected by the liquidator, either in whole or in part, no payment will be available to that creditor.
The liquidator may decide to take action against directors and/or third parties, including court proceedings. It will also impact the amount, if any, that is available for distribution to creditors.
Unfortunately, there is no absolute answer to that question.
Depending on where your claim sits, you may not be entitled to a payment, or a full payment.
The situation is slightly different if your debt is secured.
The notices may include proof of debt forms and proxy forms for voting at meetings called by the liquidator, depending, in part, on whether there are funds available in the company.