Liquidation is quite a common occurrence. It is also frequently referred to as ‘winding up’ and is the process of a company coming to an end. Throughout the process, liquidators are brought in with the intention of assisting the company and helping them dispose of all of their assets, distributing the proceeds to creditors to …
What is a Liquidation Auction in the United Kingdom? Read More »
Company insolvency is not an easy situation to deal with; what’s also a difficult decision is deciding which route to take to resolve the situation. Is it better to liquidate the company and use its assets to pay back creditors? Alternatively, if the company is worth saving, is administration a better option to give your …
Liquidation vs Administration – What Should You Consider for Your Business? Read More »
Having to admit insolvency and face liquidation is not easy for any company director. No liquidation process is easy but what will make the process simpler is professional liquidation solicitors. When entering into a CVL (Creditors Voluntary Liquidation) or an MVL (Members’ Voluntary Liquidation) process, it must be handled by a licensed insolvency practitioner (IP) …
Why You Should Consider Simple Liquidation for CVL & MVL in the United Kingdom Read More »
With any voluntary or compulsory liquidation process for an insolvent company that’s being chased by creditors, the liquidator will call a creditors’ meeting. Once it has been agreed with the board of directors that a voluntary liquidation is the best route, the liquidator agrees a suitable date and time for the creditors’ meeting. This usually …
What is a Creditors’ Liquidation Meeting and What Does it Mean for your Business? Read More »
When a business is suffering from debts they cannot honour and creditors are demanding payment, the directors of the business are often in the position of having to consider liquidating the company. In some cases, creditors will have petitioned the court and forced the company into compulsory liquidation. However, if it hasn’t got that far, …
How Creditors Voluntary Liquidation Works and the Effect on the Business? Read More »
Whether a company is solvent or insolvent, it is not possible to liquidate a company yourself. Any company liquidation must be handled by a licensed insolvency practitioner (IP). Unless the company has been issued with a winding up petition by a creditor, the directors of the company make the decision to liquidate it and instruct …
How to Liquidate a Company and Can I Do It Myself? Read More »
In some situations, the directors of a solvent limited company may want to close the business. For example, it may be for tax reasons, the company may be part of a larger business and is no longer required, or the directors may simply wish to retire and there is nobody to take over the business. …
How Long Does a Members Voluntary Liquidation Process Take? Read More »
When a company becomes insolvent and directors wish to close the business, they can enter into what is called a Creditors Voluntary Liquidation (CVL) process. This process is often preferable for directors rather than facing a winding up petition from creditors. The benefit of a CVL is that directors of the insolvent company are able …
Voluntary administration is an alternative to liquidation when winding up an insolvent company. It is used to protect the company from any legal action by creditors as the company voluntarily agrees to pay regular payments to settle their debts over a period of time. An appointed administrator handles the voluntary administration process, as well as …
When a company goes into liquidation, it’s not always because of insolvency. There are times when a solvent company opts for liquidation on a voluntary basis. This form of voluntary solvent liquidation is known as a Members’ Voluntary Liquidation (MVL) and is a legal liquidation process to wind up a solvent company. Why choose a …
What is the Role and Purpose of Voluntary Solvent Liquidation? Read More »
Simple Liquidation
