Winding-Up a Company Using Voluntary Liquidation (CVL)
Voluntary Liquidation has historically been used to wind-up companies where no future is anticipated for the business. It is also now being used increasingly in business recovery as an alternative to administration giving a decisive closure of the company. It offers transparency to creditors & in some circumstances no obligation to Transfer of Undertaking (Protection of Employment)(TUPE) increasing the potential viability of a recovery.
Benefits of Voluntary Liquidation (CVL)
- Brings a swift conclusion for creditors retaining as much goodwill as possible;
- Taking decisive & correct action reduces the risk of wrongful trading allegations;
- Gives the Director an opportunity to present the trading history of the company;
- There will be the option to purchase assets that may be beneficial in future enterprises.
Our service
We will assist you to present your case to an Insolvency Practitioner with a view to negotiating a fixed fee for his professional services. Ultimately this assists the Directors & shareholders to control costs & achieve a predictable outcome.
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