Liquidation

The reasons a Members’ Voluntary Liquidation is required  A Members’ Voluntary Liquidation (MVL) is the liquidation of a solvent company. ‘Solvent’ means that your company has no problem paying its debts in full and on time. You most likely also have profits in your company.   If you’re looking to close your business and it’s solvent, …

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The reasons a Creditors’ Voluntary Liquidation is required (CVL)  If your business is insolvent and there seems to be no way out of your financial situation, a CVL could be the answer. It can help you escape the pressure from creditors and extract the most amount of money from your business for you to pay …

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Winding up a company  Winding up a company, in its simplest form, means to stop trading, liquidate your assets and close your limited company, striking off the company from the register at Companies House. Winding up a company is also known as liquidating a company.  When you wind up a company, you use the assets …

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Solvent liquidation vs insolvent liquidation  What’s the difference between solvent and insolvent liquidation?  To look at solvent liquidation vs insolvent liquidation, we first need to look at a commonly asked question: ‘What’s the difference between solvent and insolvent liquidation?’  The main difference between solvent and insolvent liquidation is that each is used in a different …

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What is a Liquidator in corporate accounting? Corporate accounting is a specialist branch of accountancy that deals with the accounting for companies. A Liquidator in corporate matters will work closely with the accountant to advise and take action to rescue a business from insolvency or, if that’s not possible, close the company through liquidation. The …

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The advantages and disadvantages of liquidation The most common type of liquidation is a Creditors’ Voluntary Liquidation (CVL). This is a formal insolvency process that’s taken by the directors of a company. The advantage of liquidation as a CVL is that it’s voluntary, as suggested by the name. It’s also possible for a compulsory liquidation …

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The different types of liquidation If your company is no longer needed or viable to continue to use, seeking advice from insolvency practitioners to understand what different types of company liquidation are available is the fundamental first step to successfully liquidating your company. Getting the best outcome for yourselves and anyone potentially owed money by …

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Liquidation of a company – process and advice Before you make a decision about which liquidation process is right for your company you must determine whether your company is solvent or insolvent. There are two tests that are a good indicator of a company being insolvent: The Balance Sheet Test – If the company liabilities …

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