Global Asset Recovery

The Liquidation Website

Food industry liquidators, corporate recovery specialists and insolvency practitioners engage Global Asset Recovery as asset disposal specialists to conduct auctions, tender sales and private treaty sales..

Liquidation is the process whereby a company has its assets realised and distributed to satisfy, in so far as it is able, its liabilities and to repay its shareholders. The term winding-up is also used. Liquidation is a terminal process and is followed by the dissolution of the company.

The liquidator is the Licensed Insolvency Practitioner appointed to liquidate (wind-up) the company. The provisional liquidator or interim liquidator is the name given to a licensed insolvency practitioner appointed to safeguard a company's assets after presentation of a winding-up petition but before a winding-up order is made.

When a company is at the stage where it is ready to liquidate assets, then the corporate recovery specialist will appoint an asset disposal specialist to discuss the various disposal options it has available. The asset disposal proposal will usually involve some of the following: tender sale, auction, private treaty or negotiated sale.

In the UK a bankrupt company will have no input as to who is appointed to dispose of the assets. Bankruptcy is the process of dealing with the estate of a bankrupt.

Food company liquidations are becoming increasingly more frequent due to the impact that North Sea fishing quotas are having on the fishermen and the knock-on effect this is having on the fish processing industry as a whole. Although there is no food industry liquidator per se, we believe that in today's society where knowledge management is one of the keys to success, Global Asset Recovery has the prerequisite skills and experience to guarantee maximum returns for any bankrupt company or business that is restructuring and wishes to dispose of surplus machinery.