Can I Buy Back My Company’s Assets If I Go Into Liquidation?
The liquidator of a limited company has the duty to realise the maximum value of the company’s assets for the benefit for creditors.
In doing so, the liquidator will want to achieve the highest price that it is possible for the sale of the company’s assets to any third party.
Once your company has gone into liquidation, you will no longer hold the office of director of that company and therefore, you as an interested party would be able to make an offer to purchase assets of the insolvent company.
Generally, liquidators will employ the services of an independent valuation agent who will agree any proposed sale and that would be the person that you will deal with.
An independent valuation agent is used to ensure impartiality and generally, through their expertise, obtain the highest price for the company’s assets.
If you are unsure of what you can or cannot do, you should discuss this with the insolvency practitioner involved, who will be able to explain to you, the appropriate routes and procedures that you will need to follow if you are interested in purchasing the company’s assets.