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A creditors’ voluntary liquidation (CVL) is a solution where the business has become insolvent and unable to pay its debts as they fall due. Where a decision is made to liquidate the assets in order to pay off creditors, a CVL may be the appropriate option for you. It is important you seek advice immediately in this situation, call our insolvency team on 01616 966 229.
A CVL is a formal insolvency procedure that requires a meeting between directors, creditors and company members, the result of which is an insolvency practitioner is appointed as liquidator. The company will then cease trading with the insolvency practitioner taking responsibility for the company and its asset realisation.
Corporate insolvency has serious implications and should only be considered after seeking professional guidance, please contact us for help and advice on the alternatives which may be available to you 01616 966 229, you can also complete our online enquiry form and a member of the team will contact you directly.
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