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 »
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 voluntary liquidation is the best route, the liquidator agrees a suitable date and time for the creditors’ meeting. This usually takes …
What is a Creditors’ Liquidation Meeting and What Does it Mean for your Business? Read More »
Should a solvent limited company wish to liquidate for whatever reason, there is a specific procedure to follow, and that’s a Members Voluntary Liquidation (MVL). It is the process whereby a liquidator is appointed to ensure the company has no outstanding liabilities, and the assets are realised with the funds distributed to the shareholders. An …
What is a Members Voluntary Liquidation Process and How Can it Help? Read More »
When a company becomes insolvent and is unable to pay its creditors, if all other efforts have been exhausted to save the company, it will enter a liquidation process. There are several types of liquidation, and one of the most common is a Creditors Voluntary Liquidation (CVL). Because it is voluntary liquidation, the Creditors Voluntary …
Guide to the Creditors Voluntary Liquidation Process Read More »
Whether it is a limited company, limited liability company, partnership of sole trader, dealing with mounting debts, pressure from creditors and HMRC, not being able to meet financial commitments is an incredibly stressful, worrying time. Often directors end up going round in circles not knowing what to do. Well, the first port of call is …
Liquidation and Insolvency Advice for Company Owners & Individuals Read More »
No company director likes being in the position of having to make the decision to enter into a Creditors Voluntary Liquidation (CVL). Whilst an insolvency practitioner is experienced in finding ways for companies to avoid what seems like an inevitability, sometimes it is just not possible to save the company. When in this scenario, with …
The Working of A Creditors Voluntary Liquidation Read More »
Simple Liquidation
