26/05/2023
What to Do Once Your Company Has Been Taken Over
If your company has been taken over by a receiver, liquidator, or administrator, there are several things that you can do to protect your interests:
1. Keep informed: Stay in contact with the receiver, liquidator, or administrator and keep informed about what is happening with your company.
2. Seek professional advice: Get advice from an insolvency practitioner or a lawyer to help you understand your rights and obligations.
3. Cooperate with the insolvency practitioner: Cooperate with the receiver, liquidator, or administrator and provide them with the information they need to carry out their duties.
4. Protect your assets: If you have assets that are not part of the company's assets, such as personal assets, try to protect them from being seized by the insolvency practitioner.
5. Attend creditors' meetings: Attend creditors' meetings to stay informed about what is happening with your company and to have a say in the decision-making process.
6. Consider your options: If you are a director of the company, consider your options carefully and seek professional advice before making any decisions.