| Official or Court Liquidation is the name given where a company is wound up by Order of the High Court in accordance with the Companies Acts. In these circumstances the Liquidator is referred to as the Official Liquidator. In general, the petition is brought by either a creditor of the company or the company itself. In certain circumstances, generally where the assets of the company are at risk of being dissipated, the High Court will appoint a Provisional Liquidator, pending a full hearing of the petition. On receipt of the Provisional Liquidator’s Report, the High Court may or may not appoint an Official Liquidator. The Official Liquidator is an officer of the High Court and is therefore responsible to the High Court for all matters relating to the liquidation. O’Brien & Co. can advise on and assist with the petitioning process. O'Brien & Co. can also advise and assist the directors of a company facing a High Court winding-up. Paul O'Brien also accepts appointments as Official Liquidator in this type of winding-up.
|
