Member Voluntary Liquidation ('MVL')

This form of insolvency is appropriate when a Company has reached the end of its life but where it has sufficient funds and realisable assets to pay all of its creditors within twelve months. This is a relatively simple and cheap procedure which remains under the control of the Shareholders throughout. They will pass a resolution that it should be wound up, appoint a Liquidator (who must be a licensed Insolvency Practitioner) who sells the assets and distributes the funds to those entitled to them in the statutory order of priorities.

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