What is a creditors voluntary liquidation?

What is Creditors Voluntary Liquidation?

Creditors’ Voluntary Liquidation is a process by which the directors of a company hold a meeting to resolve that the company should be placed into insolvent liquidation.

A general meeting of the shareholders is convened at which resolutions are passed that the company should be wound up and a Liquidator is appointed, a decision of creditors is then sought to confirm the shareholder nominated liquidator.

A licensed insolvency practitioner must be appointed to act as the liquidator.

Chamberlain & Co have been established for over 20 years and liquidations have been a core service line throughout. We aim to make the process as stress free as possible, whether this is a straight forward company closure or part of a larger restructuring strategy.. We have a team of award winning dedicated professionals who specialise in insolvency, restructure, rescue and business turnaround. We are an established service provider within our sector and nationally.

A CVL is the age old insolvency process used to bring the activities of a company to a conclusion. We have extensive experience in its use as a traditional terminal process as well as using it as part of a creative business rescue and turnaround strategy. Most entrepreneurs use this straight forward process at some point to close a situation cost effectively.

Here at Chamberlain & Co, we are happy to offer you an initial one-hour free CVL consultation that can be done remotely on a conference call.