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p>Liquidators have been appointed to tend to the closure of a Scottish mortgage brokerage after it agreed to be voluntarily wound up.
Ambassador Financial Services, based at 37 Denholm Terrace, Greenock, PA16 8RN, offered personal loans and cash loans within its decade in the industry.
The members of the company agreed to be voluntarily wound up and as a result the liquidator is authorised to distribute the whole firm or any part of its assets to the shareholder.
Although a business may be solvent, some companies decide to voluntarily wind up its owners they want to retire, step down from a family business or do not want to run the business anymore.
In order to voluntarily wind up the firm a declaration of solvency must be signed by the majority of Directors and a general meeting would have needed to been called at least five weeks later and resolution for voluntary winding up must be passed.
Liquidators will now take control of the brokerage and begin to settle any legal disputes or pending contracts along with selling any assets to pay creditors.
The liquidator will also pay costs and the final VAT bill and will bring together those who are owed money and hold meetings to decide which creditors should be paid first.
Liquidators have been appointed to tend to the closure of a Scottish mortgage brokerage after it agreed to be voluntarily wound up.
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