Auctions & Insolvencies Information

At the present time, between two and three hundred U.K. companies are forced out of business and into liquidation, administration or receivership every single week.

So what happens to the assets of all these insolvent companies?

Almost without exception, every insolvent company is placed in the hands of an insolvency practitioner - a liquidator, administrator or official receiver - who is responsible for either:

• liquidating the company assets (i.e. their disposal and conversion into cash) to pay off the creditors or
• overseeing the day to day operation of the company until such time a buyer can be found.

Before agreeing to act as liquidator, administrator or receiver, the insolvency practitioner's number one priority will be to ensure there are sufficient funds or assets within the company to cover his fees. Once this has been established and the practitioner has agreed to take on the work, the emphasis is then often placed on speed, rather than realisation of the true value market value of any assets.

By far the quickest, easiest and most effective way for them to achieve this is by way of public disposal sale.

In the majority of cases, the practitioner will appoint a selling agent, and between them they will decide on on the best method of disposal, be it auction, tender or private treaty. The agent will then handle the disposal of the assets, and usually earn a commission based on what he can realise for the assets. "Auction News" service brings you comprehensive details of these types of sales.

In some instances, the practitioner will attempt to sell the assets directly or advertise the business for sale as a going concern. This is where our "Insolvency Report" service comes in, providing details of U.K. company liquidations, administrations, receiverships and winding-up petitions together with contact details for the appointed practitioner.