Brexit impact As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an...
This Practice Note sets out the position from 6 April 2017. The resolution to wind-up—members and creditors’ voluntary winding-up A company may only enter voluntary...
Process and effect 'Liquidation' or 'winding-up' is the process by which the affairs of a company and the company’s existence are brought to an end. When a company is...
Advantages of MVL A members’ voluntary liquidation (MVL) is a much-used, versatile process as the timing and strategy of the liquidation is initially in the hands of the...
Advantages of MVLs An MVL is a much-used, versatile process as the timing and strategy of the liquidation is initially in the hands of the shareholders and then, on...
The primary issue to establish with the nominated liquidator prior to any appointment is the true position of the company as to its solvency. For more information see:...
On 6 April 2017 the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024 replaced the Insolvency Rules 1986 (IR 1986), SI 1986/1925. This Practice Note sets...
The role and function of a liquidator A liquidator is the officer appointed when a company goes into liquidation who has responsibility for collecting in all of the...
This Practice Note has been archived and is not maintained. The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) were laid before Parliament on 25...
On 6 April 2017 the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024 replaced the Insolvency Rules 1986 (IR 1986), SI 1986/1925. For further reading,...
Members’ voluntary liquidations Voluntary liquidation or winding-up is a process in which the company, through the resolution of its members, decides to end the...
Statutory declaration of solvency A company enters voluntary liquidation when the members of the company vote to do so by a special resolution. For more information, see...
A members' voluntary liquidation (MVL) occurs when a company is solvent and the company wants an orderly wind-up of the company. For more detail, see Practice Note: What...
