There are moments in business when tough decisions must be made. One such decision is the winding up of a company. Whether due to financial difficulties, restructuring, or simply the end of its lifecycle, the process of winding up a company can be legally and emotionally challenging. Financial difficulties can arise due to various reasons …
The Importance of Legal Advice in Winding Up a Company Read More »
Have you decided that it’s time to retire? Is it finally time to hang up your suits, tuck away the computer and focus on having a bit of time to yourself? Retiring can be a great feeling, as you give yourself the freedom to do the things you’re yet to have done and go to …
No one likes to be in debt and any type of debt will affect your credit rating. Declaring bankruptcy is often considered the last resort for insolvent individuals but while it has its advantages; it also comes with disadvantages. One of the main issues is bankruptcy and credit ratings as it has a much longer, …
There are two ways of voluntarily winding up a company; either through a Creditors Voluntary Liquidation (CVL) if the company is insolvent, or a Members Voluntary Liquidation (MVL) if the company is solvent. With a CVL, the company is insolvent, i.e. its debts outstrip its cash flow and assets, and its creditors’ are demanding payment. …
What Are the Steps Involved in Winding Up a Company? Read More »
Opting to close a company is not a decision many directors take lightly, even if it is a solvent company without any debts. There are many reasons why a company may be closing including retirement, restructuring or going back to being a sole trader. If it’s a solvent company or if insolvent, the options are …
Simple Liquidation
