Creditors Voluntary Liquidation (CVL)
Creditors voluntary liquidation is a legal process in which a liquidator is appointed to 'wind up' the affairs of a limited company. At the end of the process, the company ceases to exist. Liquidation does not mean that the creditors of the company will necessarily get paid.
If you require help with your creditors voluntary liquidation please contact us today using our online form. If you would prefer to speak to someone now please call us on 0844 704 8907.
The Purpose of Liquidation
The purpose of liquidation is to ensure the company's affairs have been dealt with properly. This involves:
- Completing, transferring or otherwise bringing to an end all company contracts (including employee contracts)
- Ceasing the company's business
- Settling any legal disputes
- Selling any assets
- Collecting in money owed to the company
- Distributing any funds to creditors
When this has been done, the liquidator will apply to have the company removed from the register at Companies House and dissolved. This means it ceases to exist.
Contact Us Today
We always offer open and honest advice at Baines & Ernst Corporate. If you require help with your creditors voluntary liquidation we would like to hear from you today. You can either contact us using our contact us form or by phone by calling 0844 704 8907.