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The detailed review referred to
on the "What is a CVL?" page is the first step.
Assume that the review advice is
to take the CVL route.
The steps that then follow are:
- Notices are signed by the directors
to call a separate:
- Shareholders meeting
- and a creditors meeting.
- At the shareholders meeting
the directors nominate the liquidator of their choice. The
liquidator ultimately appointed however, must be approved
by the creditors.
If you wish to read the sections
of the Insolvency Act 1986 dealing with this procedure please
click here.
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