Compulsory Liquidation
If your company has outstanding debts in excess of €750 and has kept creditors waiting for settlement of those debts, the creditors may file for compulsory company liquidation. Compulsory liquidation can be ordered by the court if the creditor or creditors have issued a statutory payment demand which has gone unheeded by your company. Another possible way compulsory liquidation can be triggered is if the creditor or creditors have an unpaid County Court Judgment or CCJ. Should the winding up order be granted, your company will be forcibly shut down and its assets seized and liquidated to repay said creditors.