Provisional liquidation is the process between the presentation of a winding up petition and prior to the making of a winding up order against a company. This process allows for an emergency measure to protect the assets of a company being faced with a winding up petition if there is a concern that the company’s assets will be dissipated prior to the making of a winding up order.
Who can apply for provisional liquidation?
We can help creditors, companies and liquidators through provisional liquidation. Whomever makes an application, with or without notice, must seek legal advice for grounds for applying, which generally includes the risks posed if a company was to go insolvent.
In the most common cases, a provisional liquidation will be settled by;
- A winding up order against the company, granted by the court
- Discharging the provisional liquidator from their duties
- The petition for winding up being dismissed by the court
Speak to an experienced insolvency solicitor today
Lincoln & Rowe can assist companies facing insolvency or parties of interest in a company going insolvency, by advising the best route when a company is in financial trouble. We strive to provide our clients with concise, clear and practical legal advice on the most complex legal issues.
Make an online enquiry, send an email to firstname.lastname@example.org or call us on +44 (0)20 3968 6030.
Who we can help
We understand the need for fast and professional advice when insolvency issues arise. We pride ourselves on our approachable team of solicitors offering support on a range of insolvency matters. We take appropriate action to protect our clients, their business or their assets, wherever and however possible.
Where can you find us?
Lincoln & Rowe Solicitors are based in the heart of London and just a few minutes’ walk from the Royal Courts of Justice. Our full address is 81 Chancery Lane, London WC2A 1DD.