Creditors’ Voluntary Liquidations
CVL Information for Directors
A Creditors’ Voluntary Liquidation (‘CVL’) is only appropriate when a company is insolvent, i.e.:
- its liabilities exceed its assets and/or,
- it cannot pay its debts as and when they fall due.
The Directors and Shareholders pass the appropriate resolutions to place the company into liquidation. The creditors, however, have the final decision on the choice of liquidator.
If you are a Director of a company in financial difficulties we can offer an initial free consultation on the most appropriate way to proceed, taking into account the aims and responsibilities of the Directors and the extent of difficulties.
CVL Information for Creditors
If you are a creditor of a company experiencing financial difficulties we can assist in the appropriate action to maximise your recovery, or in the case of a CVA we can represent you to ensure that your interests are protected.