Liquidations (CVL & MVL)
Often referred to as ‘winding up’, Creditors Voluntary Liquidation (CVL) is the most common corporate insolvency procedure. A Liquidator is appointed to realise the company’s assets and distribute the proceeds in a prescribed order of priority. The liquidator also has extensive powers to investigate the company’s affairs and the conduct of its directors and to recover funds for the benefit of the insolvent estate.
Members Voluntary Liquidation (MVL) procedures, allow solvent companies to return capital to their shareholders in a tax efficient manner, allowing the company to ultimately be removed from the register at Companies House.