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In Britain some 14,000 businesses are wound up each year because they can no longer pay their debts and become insolvent.
There are two main main types of company liquidation - voluntary and compulsory. A detailed article in the Times looks at the former and your responsibilities as a director if you think your company is going facing liquidation.
The full article is here:
Insolvency: the correct way to deal with failure - Times
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The Editor
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