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ARTICLE · 22 JANUARY 2018

'Talkin' Bout A Dissolution'

Mishcon de Reya LLP
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Mishcon de Reya LLP

Mishcon de Reya LLP

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Dissolving a company may seem like the best course of action to declutter a group of companies, or if a company no longer seems to serve an ongoing purpose.

United KingdomInsolvency/Bankruptcy/Re-Structuring
Helena Liebster
Helena Liebster

Stop and Think

Dissolving a company may seem like the best course of action to declutter a group of companies, or if a company no longer seems to serve an ongoing purpose. 

But it is absolutely critical that before dissolving a company, you check whether it holds any assets.  Companies holding real estate can sometimes be wound up without due consideration – causing significant costs and meaning the property is effectively frozen.

You also need to bear in mind that the company may have ongoing obligations or liabilities (e.g. under a warranty or indemnity).

There is the risk of a company being dissolved through an involuntary strike off if a company has not met its statutory obligations (e.g. filing its annual accounts).

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