There are 3 exceptions that allow you to reuse a company name and these are outlined in section 7.
Liquidation is overseen by a liquidator (either the Find out how to apply for members’ voluntary liquidation.
The liquidation business is driven by the four d’s: downsizing, death, divorce and debt.
With about 10,000 Americans turning 65 each day, boomers account for many of the downsizers.
A director can apply to wind up an insolvent company in two ways: Find out how to apply for a creditors’ voluntary liquidation.
In a voluntary liquidation the shareholders will appoint and pay for an authorised insolvency practitioner to act as liquidator.
If you can’t get the shareholders agreement the directors can apply but the petition must be presented by all directors if there is more than one.
It’s a criminal offence to do this if you know the company is insolvent.But most liquidators have no formal training, Hall says.Anyone can set up shop as an estate seller, and plenty of folks who lost their jobs in the recession did just that, she notes.As you will be doing this as a creditor you don’t need the other directors to join the petition.If the company has been dissolved you will need to restore the company.