This is one of the most common questions the team at ISA are asked.
Liquidation and Voluntary Administration are the two options available to a company encountering irreparable financial distress.
The two major differences between liquidation and voluntary administration lay in the level of control held by the company director and the future of the business. Owing to the benefit of allowing businesses companies to resume trading following the completion of liquidation processes, voluntary administration is regarded as the best option for businesses who are facing insolvency and whose restructuring will prove worthwhile. For businesses companies who have reached a point of no return however, liquidation is recommended.