Liquidation Listed On A file

A creditors voluntary liquidation process is appropriate for companies that are insolvent, i.e. cannot pay their liabilities as and when they fall due.  Increased creditor pressure or cash flow difficulties are key indicators of an insolvent business.

Key advantages of a CVL process:

  • Remove creditor pressure quickly.
  • Receiving CCJs or debt collection letters?  A CVL prevents further legal action.
  • Claim redundancy and other statutory entitlements from the government.
  • Looking to start again?  We can work with you to ensure that if you have a new company incorporated for future trade and not fall foul of the various insolvency restrictions.


No Funds to Pay CVL costs?

If you have obtained a liquidation quote using our calculator but do not have the funds to pay the quoted costs do not fear, we want to help you. Unlike many insolvency firms, we do not operate a strict upfront payment structure.

The costs of a CVL are typically funded in one of two ways, either from the assets owned by the company or via a contribution from directors. If the company has assets we will always work with you to dispose of the assets for the best possible price to fund the liquidation process. If the company has no assets, and the directors are also unable to pay the quoted costs, we will work with you to agree a payment plan. Are the directors remunerated through the PAYE scheme? Did you know that a liquidation enables directors (and other employees) to claim statutory redundancy and other entitlements from the government? Sometimes the payment received can be significant. For more information please read our article, Employee Rights Under Insolvency – What Can you Claim?

If you would like to explore a CVL further and have a query regarding the costs, please speak to us.