Liquidation

The Insolvency Law Series brings you a set of clear, step-by-step guides to the main statutory insolvency procedures; administration, liquidation and bankruptcy. Written and edited by Vernon Dennis, a leading expert in insolvency law, each book offers: * the key advantages of each process over others that may be available * a perspective from both the debtor's and creditor's points of view * guidance on how the rights and interests of third parties are affected by each process * practical advice on how to avoid common errors. Liquidation is the second title in the series. The liquidation process is central to the UK insolvency regime and is the most common corporate insolvency procedure. The book discusses the development and process of liquidation and how it can be used to balance the interests of the company, its directors and shareholders, and the company's creditors.
The book provides the reader with a thorough and chronological analysis of the liquidation process, and in particular examines: * the differences between the three types of liquidation: compulsory, creditors' voluntary and members' voluntary * pre-commencement considerations for both debtor companies and creditors * the process of liquidation post-commencement in light of the powers, duties and obligations of the liquidator * the implications of liquidation for directors and for different classes of creditor * the various 'exceptions to the rules' such as legislative and judicial checks and balances to ensure fairness and achieve equitable solutions * the effects of liquidation and the conclusion of the process. The book also includes flowcharts, summaries and guides to procedures providing 'at a glance' advice. Liquidation will prove an invaluable source of reference to those advising companies, directors, creditors and suppliers to businesses considering liquidation.