Creditors’ Voluntary Liquidation
Stay in control – liquidate voluntarily before being forced by creditors.
What is a CVL?
A Creditors’ Voluntary Liquidation (CVL) is a formal process where directors close an insolvent company instead of a court order.
A CVL gives a clear legal process for closing a company, ensuring everything meets statutory requirements. It brings formal closure and helps directors move on to new opportunities.
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Advantages Of Voluntary Liquidation
Keep control — liquidate your business on your own terms
A Clean Break and a Fresh Start
An insolvent voluntary liquidation also known as a creditor's voluntary liquidation or CVL gives you a proper way to close an insolvent company and move on, without ongoing worries about the business.
Sort Out Debts Quickly
Business liquidation helps bring debts to an end by selling any remaining assets and sharing the funds fairly between creditors. Contracts and leases end too, giving you clarity and closure.
Takes the Pressure Off
HMRC can act quickly when taxes are overdue, and bailiffs can seize business assets. Choosing voluntary liquidation early helps you avoid stressful enforcement action.
Better for Creditor Relationships
A CVL (Creditors’ Voluntary Liquidation) shows creditors you’re dealing with the situation properly. It’s far more respectful — and far less messy — than suddenly shutting the doors.
Avoid Forced Liquidation
If creditors push things to court, compulsory liquidation can follow — and you lose all control. Voluntary business liquidation lets you stay in charge and avoid that outcome.
Protects You as a Director
Acting early and choosing voluntary liquidation shows you’re doing the right thing. It helps reduce the risk of being blamed for “wrongful trading” and protects you personally.
Support From Experts
A licensed insolvency practitioner handles the liquidation for you — dealing with creditors, sorting the paperwork, and closing the company at Companies House so everything is done properly.
Redundancy Payments
With voluntary liquidation, you and other staff may be able to claim redundancy and other payments from the National Insurance Fund. Calculate your redundancy entitlement here.
Liquidating with us
"Our agents work closely with you to establish the value of the company's assets. If you are planning to set up a new company and feel the company assets are of benefit to your new venture; you will be provided the opportunity to make an offer providing it reflects valuation figures"
Jon Rudd
Operations Director
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