Provisional Liquidation

Ingram Associates will assist provisional liquidators and their lawyers, usually in early morning raids, by serving the winding-up petitions and other orders and documents, taking inventories at the companies’ premises and effecting the subsequent necessary security. We will also organise and manage for the assets to be auctioned should this be required.

A provisional liquidator may be appointed after a petition to 'wind-up' a company has been presented to the court. This may be because there is concern that assets are at risk or because it is not in the 'public interest' for the company to continue trading. The assets and potential creditors are therefore protected until the court hears the winding-up petition. Alternatively, a provisional liquidator may be appointed to preserve a business until its financial affairs can be brought into order. The provisional liquidator will carry out duties as set out in the court's order in dealing with the company's assets and affairs. At any time after a petition to 'wind-up' a company has been presented to the court, the court may appoint a provisional liquidator. Application for the appointment of a provisional liquidator may be made 'with notice' or 'without notice' to the company. During a provisional liquidation the official receiver carries out duties as set out in the court order. These duties vary depending on the company concerned but they usually involve:

  • Protecting assets
  • Safeguarding the company's records
  • Investigating the company's affairs only in so far as it is necessary to discover, protect and recover assets

Public Interest Unit staff will carry out an inspection of the trading premises on the day the provisional order is made. This usually involves removing all the company's records from their premises and dismissing any staff they may employ, so effectively the company ceases to trade. The director(s) of the company will also be interviewed. The unit will then carry the appropriate investigations necessary, in order to protect assets and secure company records.

Contact Us

Please call 020 7073 2610 or 01865 301779, or use our contact form