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Liquidation: Our Scottish offices are here to support
Our team can explain the options available to you in regards to the liquidation process and the options open to you. We help business owners, directors and all stakeholders navigate their way through the uncertainty that distress brings.
Immediate assistance
Our dedicated team is on hand to provide assistance to Directors of companies in financial difficulties. When a company is insolvent, a Director has a duty to minimise losses to stakeholders. Our senior management are available to talk to you about the problems you and your company face with complete confidentiality.
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A guide to Liquidation
A company enters into liquidation by either action taken by the directors and shareholders, which is known as a Voluntary Liquidation, or through a court process where a Winding Up Order is made, which is known as a Compulsory Liquidation.
There are two types of Voluntary Liquidation processes:
A Creditors’ Voluntary Liquidation (CVL) is where the company is insolvent and cannot pay its debts. A CVL is a director led process whereby the shareholders place a company into Liquidation to facilitate an orderly wind up of the company’s affairs. The decision to initiate a CVL process is usually when the company has run out of cash, it is unable to pay its debts, or the directors believe that the business is no longer viable.
A Members Voluntary Liquidation (MVL) is where the company is solvent and a distribution can be made to shareholders. There are other circumstances where an MVL may be appropriate even if there is no distribution to shareholders. To find our more information on MVL’s, click here.
The CVL process
If you would like to find out more about the CVL process, please click below to read our guidance article.
Resources and guides
Our latest articles to support decision making for business owners and directors. These provide an overview on what is going on in the market and information about the options available when a company is facing challenges.
