But the firm was placed in compulsory liquidation earlier this year, leaving foreign buy-to-let investors with lost deposits worth millions of pounds and sparking an international investigation.
Otherwise, a compulsory liquidation may be initiated by either the directors, the company, some shareholders or creditors bringing a petition for winding up to the court.
It's an offence for an insolvent company to keep trading, so the main options available to an insolvent company are: voluntary liquidation, compulsory liquidation, administration or a company voluntary arrangement.
