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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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