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Thinking about liquidation? You need to understand this first. Once you appoint a liquidator, they will investigate: - All transactions before liquidation - Large or unusual payments - Your director’s loan account — and if it’s overdrawn, they’ll likely ask you to repay it - Any preference payments made unfairly to certain creditors These can all lead to personal liability if not handled properly. Before you make any decisions, get clear on the risks — so you don’t end up paying the price later.
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