Mr McCormack had run a successful security business in Bristol for the last 10 years. Due to the loss of a significant contract the company began to experience cash-flows problems and with no new work on the horizon Mr McCormack began to consider liquidating the company.

With very few assets paying the liquidation fees was a major concern but we were able to confirm that both Mr McCormack and his wife qualified for a redundancy payment of £18,000.00 from the government’s Nation Insurance Fund.

The company was placed into liquidation and the fees were deferred until the proceeds of the redundancy claim were received. The whole process took less than 3 months and after paying for the liquidation Mr & Mrs McCormack were able to start a new business together.