Company Closure

Our support and services for companies who are considering closing

Creditors Voluntary Liquidation Vs. Members' Voluntary Liquidation

The purpose of each is very different, although they are both done voluntarily, and used for various reasons.

A Members’ Voluntary Liquidation is for solvent businesses, and Voluntary Liquidation is for insolvent companies.

With a Members’ Voluntary Liquidation, the proceeds of sale go to the shareholders, whereas with a Creditors Voluntary Liquidation, the proceeds for the purchase of assets go to the creditors.

Once the director(s) and shareholders have opted to close down the business, we recommend that a licensed insolvency practitioner assess the business’s financial position.

Neither of these options should be mistaken for a Compulsory Liquidation, remember this is where a creditor (secured or unsecured) has taken legal action against your company.

Company Money Worries are here to guide and support your business and whether a Voluntary Liquidation is right for your business.

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