A Creditors’ Voluntary Liquidation (CVL) is the liquidation of an insolvent company initiated voluntarily by the directors and shareholders.
The procedure allows directors to decide to formally close the insolvent company if recovery or rescue is not feasible, without the decision being forced upon by the Court.
As the company is not able to settle all of its debts, the creditors of the company must approve the choice of liquidator, who will then make distributions to creditors.
Our network of recovery and insolvency specialists can provide expert advice on this procedure, working directly with you so you’re aware of your obligations and how to move forward with the process in the best way.
Get in touch with our team to find out more.
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