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Creditors' Voluntary Liquidation (CVL)
If your company is insolvent (unable to pay its debts) and has no viable future, a Creditors' Voluntary Liquidation (CVL) is often the most appropriate course of action.
A CVL is a formal insolvency process initiated by the directors of a company. It allows you to close the company voluntarily, rather than being forced into liquidation by creditors (Compulsory Liquidation).
- Stop Creditor Pressure. Once the process begins, all legal action from creditors must stop.
- Director Control. You choose the liquidator and the timing of the liquidation.
- Clean Slate. Allows directors to move on and potentially start a new business (subject to certain restrictions).
Our team of licensed insolvency practitioners will guide you through every step of the CVL process, ensuring you meet all your legal obligations as a director.