Presented by Paul Ellis, special counsel, and Mathew Gashi, senior associate, Maddocks
Closing a community organisation, whether at the end of a planned lifespan or due to insurmountable financial pressures, is a significant governance undertaking. Without careful handling, it can lead to legal, financial, and reputational risks that affect board members personally.
In this webinar, we’ll be covering:
- When and why winding up might be needed: from mission fulfilment to financial unsustainability
- Understanding your legal and constitutional obligations, including reporting, transferring remaining assets, and meeting charity regulator requirements
- What insolvency means in practice, including board duty to avoid trading while insolvent and potential personal penalties
- Practical steps for a planned closure: notifying regulators, closing bank accounts, managing residual funds and stakeholder communications
- How to recognise and navigate an involuntary winding up: recognising warning signs, reducing obligations early, and seeking expert advice to minimise risk and harm.
Whether your board is preparing for closure due to mission completion or facing financial distress, this session will guide you to act responsibly, legally, and ethically from start to finish.