Should I petition for the Court Liquidation of an insolvent company?
You can apply to have an official liquidator appointed over a company that is unable to pay its debts to you and whose directors are not willing to wind up the company voluntarily.
To make such a petition:
- you need to have exhausted other debt recovery procedures; and
- there should exist assets in the company that can be realised to meet debts; or
- the directors can be made personally liable for the debts of the company.