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11 March 2021

As the name suggests, voluntary liquidation takes place when a director chooses to close their company and place it into liquidation. Unlike compulsory liquidation, this is a completely voluntary process that is initiated by the director. Voluntary liquidation is a means of closing a company which still has assets and liabilities to be dealt with.…

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23 February 2021

Voluntary liquidation occurs when a company director chooses to wind-up and dissolve their company. Unlike in the case of compulsory liquidation, this is a completely voluntary process initiated by a company director that must be approved by its shareholders. The outcome of voluntary liquidation is that the company ceases to trade, its finances are wrapped…

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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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