Fisher Funding

When the shareholders and/or directors of a company feel they can no longer service their debts, they may decide to undertake Creditors Voluntary Liquidation (CVL). CVL is a complex and potentially time consuming undertaking and is not to be taken lightly, though it can be the best option for a company that feels it is no longer a viable business entity. The first step in the procedure of Creditors Voluntary Liquidation is for the directors to call a board meeting and resolve that due to unsustainable debt liabilities, the company can no longer continue to trade. Then creditors and shareholder with attend a meetings to obtain a collective resolution to place the company into liquidation.

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What Happens With Creditors Voluntary Liquidation? Posted By:…

Tags: creditors, creditors-voluntary, longer-continue, managing, procedure, viable-business