Voluntary liquidation is when a company’s directors or shareholders choose to close it down and sell its assets to pay off debts, rather than being forced to by a court. If your employer goes into voluntary liquidation, you may still be able to claim money you’re owed, like wages or redundancy pay, from the government’s National Insurance Fund.
In practice
In Perryman v ADHD Foundation, the employer had gone into voluntary liquidationVoluntary liquidation is when a company's directors or shareholders choose to close it down and sell its assets to pay off debts, rather than being forced to by a court. If your employer goes into vol... and did not attend the tribunal hearing to contest the claims against it.
See also