Compulsory Liquidation > Companies dealt with by the Public Interest Unit
The Public Interest Unit, also known as the PIU, deals with ‘provisional liquidations’. At any time after a petition to wind-up a company has been presented, the Court can appoint a Provisional Liquidator to take control of the company. The Provisional Liquidator can either be the Official Receiver or a licensed Insolvency Practitioner. The usual function of a Provisional Liquidator is to protect the company’s assets and records until the Court makes a ruling on the winding-up petition. In cases dealt with in PIU, this will usually, but not always, mean that the company will be made to cease trading.
Further information
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- Bankruptcies Currently Dealt with by the Public Interest Unit
- Company Winding Up or Provisional Liquidations currently dealt with by the Public Interest Unit
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