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The liquidation of a solvent company by way of a Members' Voluntary Liquidation is handled in full by a licensed insolvency practitioner. They will identify company assets, repay any outstanding creditors, before distributing the remaining funds to shareholders. The company will then be dissolved at Companies House and will cease to exist as a legal entity.
If you're considering the option of entering into a Members' Voluntary Liquidation (MVL) process to close a company and extract the cash tied up inside it, then you're probably wondering how long the process will take overall and what to expect in the way of time frames. For this reason we have created the following Members' Voluntary Liquidation timeline guide:
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The end of the Members' Voluntary Liquidation (MVL) procedure is marked by the final meeting held by the liquidator. The liquidator will send a notice of the final meeting to the London Gazette, and about three months later the company will be struck off the Registrar. However, the directors of the company may be able to restore the company via a Court order at any point within 6 years of dissolution.
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If you have any questions about the MVL process feel free to ask one of our experts online or call us for a free phone consultation. We have an extensive network of 100+ offices offering confidential director support across the UK.
Still unsure whether liquidation is right for your company? Don't worry, the experts at Real Business Rescue are here to help. Our licensed insolvency practitioners will take the time to understand the problems your company is facing before recommending the best course of action going forward based on your own unique circumstances.
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