How to commence a voluntary winding-up
Produced in partnership with Karl Anderson of 4 Stone Buildings
Practice notesHow to commence a voluntary winding-up
Produced in partnership with Karl Anderson of 4 Stone Buildings
Practice notes
This Practice Note sets out the position from 6 April 2017.
The resolution to wind-up
A company may only enter voluntary liquidation if:
- •
it has a fixed period for its duration 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:
- ◦
97 Notice of meeting to pass special resolution to wind up: Encyclopaedia of Forms and Precedents [1441]
- ◦
103 Special resolution to wind up and appoint liquidator: Encyclopaedia of Forms and Precedents [1452]
- ◦
The old procedure of using an extraordinary resolution is no longer possible following the Companies Act 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 further information, see Practice Note: What is a members’ voluntary liquidation and when is it typically
Access this content for free with a 7 day trial of LexisNexis and benefit from:
- Instant clarification on points of law
- Smart search
- Workflow tools
- 42 practice areas
Get your quote today and take step closer to being able to benefit from:
- Instant clarification on points of law
- Smart search
- Workflow tools
- 36 practice areas
Get a LexisNexis quote
* denotes a required field
To view the latest version of this document and thousands of others like it,
sign-in with LexisNexis or register for a free trial.
CONTACT US
