Creditors Voluntary Liquidation
- What is Creditors Voluntary Liquidation?
- How a Creditors Voluntary Liquidation works
- How can we help?
- Related topics
What is Creditors Voluntary Liquidation?
A creditors voluntary liquidation is frequently used by insolvent companies that have no reasonable prospect of survival. A company is insolvent when it is unable pay its debts as they fall due.
How a Creditors Voluntary Liquidation works
Liquidation can stop the company’s creditors’ position from deteriorating and bring closure to an unsustainable position for the company's directors, with all the attendant anxiety and stress. Since the directors’ powers cease upon liquidation, it is the liquidator who takes responsibility for selling the company's assets, distributing the funds to the creditors and dealing with the company’s employees.
How can Deloitte help?
Our Creditors Voluntary Liquidation experts can guide you through all aspects of the Liquidation process by:
- Assisting you in putting a company into liquidation
- Acting as liquidator of the company
- Providing a comprehensive, low cost, service
We regularly act as liquidators for companies of all sizes, in all sectors of the economy.
310 corporate insolvencies in total in H1 2019
Taking all reasonable steps