If a company is having difficulty meeting its financial obligations then liquidation of that company might be necessary. Liquidation is the process of appointing a registered liquidator to wind up a companies financial affairs, dismantle the company and ensure the fair distribution of the companies assets to its creditors.

There are a number of different types of liquidations, these include:

• Voluntary Liquidation for insolvent companies – this is usually commenced by the directors and or shareholders of the company when they cannot meet their financial obligations.
• Court appointed and official Liquidations – usually when a creditor applies to the court to have the company wound up.
• Provisional Liquidation – when a court appoints provisional liquidators to protect the assets of a company.
• Members Voluntary Liquidation – the liquidation of a solvent company by its directors and or shareholders.

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