I do not think liquidators will mind me saying that generally, they are not very nice.
However, if you are owed a substantial amount of money from someone who is hiding behind a company, you will want to hire a liquidator who can deliver a mini Spanish Inquisition rather than a UN Goodwill Ambassador visit.
Here are five things that you, the creditor, will want the liquidator to achieve:
1. Find the person responsible behind the company- This is usually a company director who often heads for the hills. Using their considerable legal powers liquidators can bring the company director to heel.
2. Conduct an interrogation, using at least mental torture.
3. Find out where the money is, ignoring any sob stories or pleas for mercy.
4. Put the debtor’s spouse and their indolent teenage children, including babes in arms, out onto the street.
5. Sell everything so that you get paid in full.
If only the liquidator could end it with a burning at the stake, what creditor would not look up to the heavens and say, “Yes, there is a God.”
You will appreciate that only a very special person could live up to these sorts of demands. Taking as a model the lawyers and accountants who did so well as far as dirty work was concerned in the Spanish Inquisition, breeders have developed the modern liquidator, a sort of legalaccountadoodle/Frankenstein who combines legal and accounting skills to try to live up to the often unrealistic demands of creditors.
These liquidators who are so often misunderstood, do not always need to be seen as the baddies. A skilled liquidator can reconstruct the ailing company and cause it to rise up, pick up its bed and walk. How often does this happen? Well, they are ahead of undertakers.
© Paul Brennan 2018. All rights Reserved.