What happens when a company goes into Liquidation?
A receiver (or administrator) will be appointed, who will process the Liquidation. The Company's assets will be sold (or liquidated as the assets are converted to liquid cash form), and as much of the Company's debts as possible will be settled.
Once all of the Company's obligations have been met, any further proceeds will then be distributed to shareholders. The process of liquidating a company can potentially take several years to complete and several different payments may be made at different stages throughout the liquidation. We will update you on any payments made to shareholders through the Mandatory Corporate Action Spreadsheet, available online. Shares will only be removed from your account when the Company is declared negligible value by HMRC, and when we are notified that this is the case, we will also update you via the Mandatory Corporate Action Spreadsheet.