How long should a company liquidation take?

Slash

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A company for which i did some work was placed in liquidation about twelve months ago.

It was, in my view, a fairly straight forward liquidation: a service company; no fixed assets to be disposed; some Debtors, but not many.

As an unsecured creditor, I would like to know how the liquidation is progressing and how much longer it will take.

I emailed the liquidator a couple of months ago and got a reply that said the liquidation is "ongoing", and they could not give an idea when it would be completed.

So, has anyone any idea how long is a reasonable time for such a liquidation to take, and is there any way I can find out from the courts service how much has been paid to the liquidator for fees?

Thank you.
 
Until the liquidator has generated fees equal to the assets.

Most liquidations these days are done on fixed-fee price arrangements with the liquidator paid upfront.

In my experience, a liquidation normally takes longer than 12 months even when relatively straightforward.
 
if it is a creditors voluntary liquidation fees would not normally be agreed upfront but as cremegg said realised from the disposal of assets. If it is a members liquidation fees would of been agreed upfront. Court liquidations would normally be funded by revenue if the assets were not enough.

Either way you can see what fees the liquidator has taken to date by getting the E3 or E4 returns, cant remember which one.

OP liquidations can drag on for years and I'd say you have more chance of winning the lotto then getting a dividend if it is a CVL or court one.
 
You can go on the CRO.ie website and search for the company. When you find the company you want just look under the submissions listed and that will give you a list of all forms submitted to the Companies Registration Office by that company i.e. B10, B1, E3 etc and you can request a copy of whichever form you want. There is a small charge (maybe 2 or 3 euro - not sure of the cost - it may differ per form) and you can just download the form from there. Hope this helps.
 
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