The following Restructuring & Insolvency guidance note Produced in partnership with Karl Anderson of 4 Stone Buildings provides comprehensive and up to date legal information covering:
This Practice Note sets out the position from 6 April 2017.
A company may only enter voluntary liquidation if:
it has a fixed period which has expired, or an event has occurred which its articles say is an event leading to liquidation, and the company has passed an ordinary resolution to wind-up, or
it passes a special resolution that it be wound-up voluntarily. See: Notice of meeting to pass special resolution to wind up: BANKRUPTCY AND INSOLVENCY (CORPORATE INSOLVENCY)  and Special resolution to wind up and appoint liquidator: BANKRUPTCY AND INSOLVENCY (CORPORATE INSOLVENCY) 
The old procedure of using an extraordinary resolution is no longer possible following Companies Act 2006 (CA 2006).
If the directors make a declaration of solvency under section 89 of the Insolvency Act 1986 (IA 1986), the company can enter into a members’ voluntary liquidation (MVL). For more information, see Practice Note: What is a members' voluntary liquidation (MVL) and where/when is it typically used?. If they cannot, it must enter creditors’ voluntary liquidation (CVL). For more information see, Practice Note: Creditors' voluntary liquidation—circumstances in which an insolvent company may be wound up voluntarily.
In either case, the resolution must be put to a meeting of the members for consideration. If it is passed, it must be advertised within
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