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Corporate & Commercial Law
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Listen and pass the quiz: Gain 1 CPD point (60 minutes)
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Regulated by the Bar Standards Board:
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  • FREE
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Course Aims:

This podcast aims to examine the two types of liquidation, namely compulsory and voluntary liquidation. Compulsory liquidation is where the court makes an order for the company to be wound up, after receiving a petition from the appropriate person. Voluntary liquidation is instigated by the shareholders themselves when the company is either solvent or insolvent.

After completing the course you will:
  • Understand the procedure for forcing a company in to compulsory liquidation Know the grounds on which a petition for a winding up order may be based;
  • Understand the role of the liquidator;
  • Know the two types of voluntary liquidation.
Beginner Difficulty: 1 of 5
Practical Guide
Sources and References:
  • Insolvency Act 1986;
  • The Legislative Reform (Insolvency) (Advertising Requirements) Order 2009 (SI 2009/0000));
  • Re Hewitt Brannan (Tools) Co Ltd [1990] B.C.C. 354;
  • Re a Company (No 0012209 of 1991) [1991] 1 WLR 351;
  • Cheyne Finance plc (in receivership) [2007] EWHC 2402 (Ch), 17 October 2007, ChD;
  • Managa Properties Limited v Louise Brittain [2009] EWHC 157 (Ch).

In this podcast Fiona Ball discusses liquidation, one of the procedures available when a company is insolvent or facing financial difficulties, under which the assets of the company are realised and distributed to the creditors.

Podcast last reviewed: 2011-07-25

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