Wilson Field

05/06/2026

🔴 When a company becomes insolvent and enters liquidation, any personal guarantees become enforceable by the lender. This means directors who provided these guarantees can be held personally liable for the company’s debt.

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Directors who provided personal guarantees can become personally liable if their insolvent company enters liquidation, as the guarantees then become enforceable.

04/06/2026

🟢 A liquidator’s role will vary depending on the company's
solvent status. Regardless, a director will need to instruct a licensed insolvency practitioner to carry out the appropriate liquidation.

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What is the role of the liquidator? Their role in a CVL, MVL and compulsory liquidation are all different and we explain more.

03/06/2026

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02/06/2026

🔴 If you resign as a company director, you are not automatically liable for your company’s debts. However, personal guarantees, your conduct as a director, and contract terms can create exceptions to this rule.

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If you resign as a company director, you are not automatically liable for that company’s debts. Directors have limited liability protection.

01/06/2026

🟢 The cost to close and liquidate a limited company can depend on several variables, including whether the company is solvent or insolvent.

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The cost to close and liquidate a company via the MVL process starts at £1,995 + VAT & Expenses. The cost to liquidate using the CVL process is dependent on circumstances

29/05/2026

🟢 There is no set timescale for liquidation. Completion time depends on the company’s financial position and the type of liquidation being undertaken.

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A company's liquidation can be anywhere between a few months to a few years to complete. It largely depends on the type of liquidation procedure undertaken...

28/05/2026

🟢 The cost of a licensed and regulated insolvency practitioner depends on the type of procedure that needs to be carried out for the company.

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The cost of an insolvency practitioner depends on the type of procedure set to be carried out for the company or individual.

26/05/2026

🟢 A company with an outstanding Bounce Back Loan (BBL) can be liquidated. If your company enters liquidation, a BBL, and any other unsecured debts will be written off upon its completion.

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Yes, it is possible to liquidate a company with a Bounce Back Loan. An unpaid BBL is an unsecured debt, which can be included in a liquidation procedure.