The Different Types of Company Liquidation Members’ Voluntary Liquidation or MVL – With this type of liquidation, company shareholders decide to voluntarily wind up the company and sell its assets to satisfy outstanding debts. Creditors’ Voluntary Liquidation or CVL – Is when a privately owned company ends operations and sells…
Compulsory Liquidation If your company has outstanding debts in excess of €750 and has kept creditors waiting for settlement of those debts, the creditors may file for compulsory company liquidation. Compulsory liquidation can be ordered by the court if the creditor or creditors have issued a statutory payment demand which…
Members’ Voluntary Liquidation or MVL This type of liquidation is voluntarily undertaken by a company that has come under pressure from creditors to square outstanding debts, even though it is still solvent with enough assets and cash flow to remain a viable enterprise. The MVL provides a number of tax…
Creditors Voluntary Liquidation or CVL If you are feeling the heat from creditors and have reason to believe your company does not have a viable future you may want to enter into a CVL or Creditors’ Voluntary Liquidation. With this form of liquidation you can reduce the risk of directors…
