A Creditors Voluntary Liquidation involves the directors and shareholders resolving to wind up the affairs of the company due to the insolvency of the business and effectively stop trading.

A Creditors Voluntary Liquidation can occur when a company has been placed into voluntary administration and a proposal for a Deed of Company Arrangement has not been accepted by creditors or terminates.

Benefits:

• In most circumstances the appointment is immediate;
• Appointment is voluntary;
• Independent insolvency expert is responsible for the future affairs of the company.