Transcript
"Hi, I'm Dorothy Brown I'm a licensed insolvency practitioner with over 30 years experience in the business. I've dealt with thousands of individuals and companies through the maze of insolvency and as a result the people have felt relieved of their worries and of their debt and have a way forward out of the insolvent situation.
But today we're going to talk about a happier way of insolvency.
It's actually a solvent liquidation.
For companies that have got money in the bank and have probably come to the end of their natural life - or it's part of succession planning - and who also have assets that are available (perhaps sitting in the bank account is over £25,000) may go for a solvent liquidation.
HM Revenue and Customs require that a liquidator be appointed to deal with those assets.
So if I give you an example; The gentlemen owners of a company were all retirement age and had invested in properties over the years. Those property were sold and we had over half a million pounds sitting in the bank account.
They wanted to benefit from the fruits of their labour. So I was appointed and was able to pay them all back distributions. They benefited and had a really good retirement as a result of it.
So if the companies sitting there with over £25,000 in the bank account and it's part of the perhaps succession planning or come to the end of its natural life. Then why don't you get your clients to contact me and I can help them through the process of a solvent liquidation"
