Liquidation Archives

What is a Creditors’ Liquidation Meeting and What Does it Mean for your Business?

Leave a Comment / Liquidation / By Jamie Playford

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 …

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How Creditors Voluntary Liquidation Works and the Effect on the Business?

Leave a Comment / Liquidation / By Jamie Playford

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, …

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How to Liquidate a Company and Can I Do It Myself?

Leave a Comment / Liquidation / By Jamie Playford

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 …

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How Long Does a Members Voluntary Liquidation Process Take?

Leave a Comment / Liquidation / By Jamie Playford

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. …

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Creditors Voluntary Liquidation Process

Leave a Comment / Liquidation / By Jamie Playford

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 …

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What is the Voluntary Administration Process?

Leave a Comment / Liquidation / By Jamie Playford

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 …

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What is the Role and Purpose of Voluntary Solvent Liquidation?

Leave a Comment / Liquidation / By Jamie Playford

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 …

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What is a Creditors’ Liquidation Meeting and What Does it Mean for your Business?

Leave a Comment / Liquidation / By Jamie Playford

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 »

What is a Members Voluntary Liquidation Process and How Can it Help?

Leave a Comment / Liquidation / By Jamie Playford

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 …

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Guide to the Creditors Voluntary Liquidation Process

Leave a Comment / Liquidation / By Jamie Playford

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 …

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Liquidation

What is a Creditors’ Liquidation Meeting and What Does it Mean for your Business?

How Creditors Voluntary Liquidation Works and the Effect on the Business?

How to Liquidate a Company and Can I Do It Myself?

How Long Does a Members Voluntary Liquidation Process Take?

Creditors Voluntary Liquidation Process

What is the Voluntary Administration Process?

What is the Role and Purpose of Voluntary Solvent Liquidation?

What is a Creditors’ Liquidation Meeting and What Does it Mean for your Business?

What is a Members Voluntary Liquidation Process and How Can it Help?

Guide to the Creditors Voluntary Liquidation Process

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