There are two situations when ending your relationship as a director with your company. The first is when you have the money to pay off your creditors. This is called a Member’s Voluntary Liquidation (MVL) which allows you to realise all your funds.
The second situation is when you cannot afford to pay your creditors. In this situation the company liquidation can be bought about through a Creditors' Voluntary Liquidation. This dissolves your business and creditors are paid off through the sale of all your assets.
No matter what event leads to the need for a CVL, whether this be the failure to secure a large order or terminal cash flow in the business, you are allowed to appoint your own authority to manage the process of liquidation.
In such instances McTear Williams & Wood is the ideal choice. With experience of managing company liquidations for a large number of clients in different industries, we will help you get the best result at this difficult time.
If you have been declared insolvent it is likely that your company’s value is rapidly depreciating. Through rapid action it is possible to ascertain the best price whilst still retaining your customers. McTear Williams & Wood is able to provide you with a quick resolution in such circumstances.
Why not find out how a CVL could work for your business? Arrange a free company liquidation consultation with McTear Williams & Wood in Cambridge and we’ll assist you in understanding the full range of implications. Call us now on 0800 331 7417