Members Voluntary Liquidation

For shareholders to voluntarily wind up a company

Members' Voluntary Liquidation process

The members' voluntary liquidation (MVL) procedure is relatively straight forward and only takes a matter of weeks once it has been initiated.

First of all, the directors of the company must all agree and resolve with the shareholders that voluntary liquidation is the best course of liquidation help for the company and that all creditors and shareholders involved can be paid any money owed.

An insolvency practitioner (or an IP) must be appointed by the company in order to put the business into company liquidation - this requires a legal licence. The IP will be responsible for disposing remaining assets, ensuring creditors are paid and distributing surplus funds among shareholders.

Members Voluntary Liquidation UK

A company will not be investigated during the MVL process because the directors have already declared that the company is solvent. There are instances where the insolvency practitioners may find the company is insolvent after all, which could lead to the directors being made liable to receive a fine or imprisonment for making false claims of solvency.

The IP will be responsible for overseeing the whole process, attending meetings and producing relevant paperwork and progress reports throughout the liquidation process.

Crown Debt will match each client to a specialist partner, who will initiate the insolvency service. If your company requires liquidation help, contact us directly for a prompt response.

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