Members' Voluntary (Solvent) Liquidation ("MVL")

The MVL process allows for all creditors to be paid in full, together with statutory interest within a 12 month period.  The liquidator is appointed by the shareholders to finalise the company’s liabilities to creditors, realise any remaining assets and when all is complete, distribute funds to shareholders in accordance with their shareholding.

Should it become apparent that the company cannot discharge its obligations then the liquidation will convert to a creditors’ voluntary liquidation (“CVL”) with possible penalties for the company’s directors.

An application to strike off a company from the register may be made but is subject to strict conditions making an MVL the likely option to finalise a solvent company’s affairs.