What is a creditors voluntary liquidation or CVL?

What is a creditors voluntary liquidation or CVL? 1

A creditors voluntary liquidation, or a CVL, is an insolvency procedure to place an insolvent company into Liquidation to bring its life to an end.

A Creditors Voluntary Liquidation is an out of court procedure which uses a private sector Insolvency Practitioner, instead of the Courts and the Insolvency Service.

It is therefore a much quicker procedure and the cost of placing the Company into liquidation is broadly the same.

A CVL can also be used to organise a phoenix company, which can increase assets realisations, save jobs and increase the return to creditors overall.

More information can be found here.

Alternatively, if you would like a free face to face, or telephone meeting, with a Licensed Insolvency Practitioner, please ring 01326 340 579 or 01305 458 383, to arrange a mutually convenient time and date to discuss the options open to you and your Company.

 

  Back to FAQ
We use cookies on our website so you get the best experience. To find our more, click here.