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Bradshaw Boy · 29-05-2009, 13:01

Well they've been winding us for months so I guess you do reap what you sow!!

Winding-up

"The process by which a company dies. Under Part IV of the Insolvency Act 1986, there are three separate procedures - a members voluntary winding up where a company is solvent, a creditors voluntary winding up for insolvent companies and a compulsory winding up by the court. Once the process starts the company is administered by a liquidator who disposes of all assets, and distributes the remainder to members or creditors. When the process is complete, the company is struck off the Companies Register and ceases to exist."

29-05-2009, 13:01	#2
Bradshaw Boy Full Member Join Date: Mar 2004 Posts: 261 Liked: 0 times Rep Power: 50	Re: Winding up proceedings Well they've been winding us for months so I guess you do reap what you sow!! Winding-up "The process by which a company dies. Under Part IV of the Insolvency Act 1986, there are three separate procedures - a members voluntary winding up where a company is solvent, a creditors voluntary winding up for insolvent companies and a compulsory winding up by the court. Once the process starts the company is administered by a liquidator who disposes of all assets, and distributes the remainder to members or creditors. When the process is complete, the company is struck off the Companies Register and ceases to exist."