Members Voluntary Liquidation
Members Voluntary Liquidation is the procedure by which a solvent company is wound up, and is usually initiated when the members no longer wish to retain the company structure.
Voluntary Administration/Deed of Company Arrangement
Voluntary Administration is designed to provide companies with the ability to enter into a formal arrangement with their creditors regarding the repayment of their debt, or place the company into liquidation.
Liquidation is the procedure by which the company’s business and affairs are wound up and any surplus is distributed to the company’s creditors.
A Receiver is appointed to take assets of a company that are subject to a charge or other security into possession or, if necessary, to recover those assets so as to benefit the holder of the charge or security.