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Where the life of a company is to be brought to an end, and that company is solvent, a 'Members Voluntary Liquidation' is the most often used approach.

There a various reasons why a company is to be brought to an end, these are:-

1. Directors/members dispute

2. Re-construction of a company

3. Purely the end of trading

The directors of the Company must swear a 'Statutory Declaration of Solvency' to show the company is solvent.

If that is the case, the members are the ones who control the winding-up, and not the creditors, as all creditors will be paid in full, and therefore have no interest in how the winding-up is conducted.

It is therefore the members who appoint a liquidator, and he then lays his annual and final accounts before members only.

Read the 'possible alternative approaches' to see if an MVL may not be the best step for your company to take.