Can Directors Start a New Business After Liquidation?
Yes, in many cases directors can start a new business after their company has gone into liquidation. Liquidation closes the company itself, but it does not automatically stop a director from being involved in another business. However, there are important rules to consider. During liquidation, the appointed liquidator reviews the conduct of the company’s directors.
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When a limited company in the UK is no longer viable, directors must decide how to close the business in a compliant and responsible way. Two options that are often considered are Creditors’ Voluntary Liquidation (CVL) and company dissolution. While both methods lead to the closure of a company, they serve very different purposes and are used in different financial circumstances.
Can Employees Claim Redundancy If Their Company Goes Bust?
When a company becomes insolvent and enters liquidation, employees often face uncertainty about their jobs, wages, and financial security. One of the most common questions is whether employees can claim redundancy pay if their employer goes bust. In the UK, employees may still be entitled to certain payments even if the company cannot afford to pay them directly.
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