Creditors Voluntary Liquidation (CVL)
- A CVL is an insolvent liquidation
- Directors identify the problem and consult us
- Resolution of the shareholders to put company into liquidation
- The creditors have the ability to choose the liquidator
- Liquidator realises the Company’s assets and distributes funds to creditors in order of priority, by way of dividend
- Liquidator must undertake an investigation into the matters leading to insolvency and report his findings to the BERR