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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.