What is a Company Voluntary Liquidation?
If you think that your company is in trouble then there are many sources of help for you to rectify matters and to protect your own personal assets while at the same time saving your business. This is true even if your company is in a huge amount of trouble and you can see no way out. On way to do this is through a company voluntary liquidation. It is often also called creditors voluntary liquidation or CVL, as it involves the creditors, at a meeting, voting that the company should go into liquidation. It could be seen that a CVL is the end of a business, and indeed it is often known as a burial process. But, in fact, the closing of one company is an opportunity to save a business whilst closing a loss performing shell and starting a new going concern. It is now quite a common occurrence for a pre-pack sale of the business to be considered if at all possible. This has the effect of preserving assets and jobs which, in the light of this country’s current economic difficulties, will be i
