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Definition
A liquidator is the licensed insolvency practitioner who takes control of a company in liquidation, sells its assets, investigates directors’ conduct, and distributes funds under the priority of payments.
In plain terms
They are the wind-up specialist. Part of the role is checking whether directors traded wrongfully or preferred certain creditors before insolvency.
Why it matters for your company
Directors have real duties as insolvency approaches; getting advice early protects you from personal exposure such as a personal liability notice or wrongful-trading claim.
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Priority of payments
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Credicorp lends to your company, not to you personally — short-term working capital with no personal guarantee. See what your business could access.