Requests searches against companies/ legal entities to determine if a petition has been made against it to ‘wind-up’. As standard our petition searches will return the following:
MEMBERS’ VOLUNTARY LIQUIDATION: Directors’ voluntary liquidation of a solvent company
CREDITORS’ VOLUNTARY LIQUIDATION: Where a company is insolvent, the creditors’ may pursue a creditors voluntary liquidation to appoint a liquidator or nominate an alternative. A Committee of Inspection may be appointed which will represent both members and creditors’ interests.
COMPULSORY COURT LIQUIDATION: When a creditor has not been paid by its debtor and believes that the company is insolvent and cannot pay the debt owed to them. The High Court may be petitioned to wind up the company. Once the petition is heard, the court may make its decision to wind up. If so, then an Official Liquidator is appointed.