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21 December 2020

Voluntary Liquidation occurs when the company directors and shareholders decide to place the business into liquidation. This is a self-imposed, voluntary process unlike a Compulsory Liquidation in which the company is forced to close. A Voluntary Liquidation means the company must cease to trade and its operations come to an end. As a result, the…

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A Creditors’ Voluntary Liquidation (CVL) allows a company director(s) to close their insolvent business when it is no longer feasible, whether this is because it can’t pay its bills and debts or its liabilities outweigh its assets. Initiated by the director(s), this is a process that stops the company trading and liquidates its assets in…

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When a company can no longer afford to cover its day to day costs or debts, its liabilities outweigh its assets or a creditor has served a formal payment demand that has gone unpaid, it is deemed insolvent. If this is the case for your company, there are several options open to you, from liquidation,…

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Voluntary liquidation takes place when the directors and shareholders of a company decide to place it into liquidation, contrary to a Compulsory Liquidation where the company is forced to close. This process brings the company’s trading and operations to an end. As a formal insolvency process, voluntary liquidation is required to be carried out by…

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Voluntary liquidation takes place when the directors and shareholders of a company decide to place it into liquidation, contrary to a Compulsory Liquidation where the company is forced to close. This process brings the company’s trading and operations to an end. As a formal insolvency process, voluntary liquidation is required to be carried out by…

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