Members Voluntary Liquidation (MVL)
Release capital from your SOLVENT business with an MVL
A Members Voluntary Liquidation or an MVL is a voluntary procedure to wind up the affairs of a SOLVENT company. It is used to close or wind up a company maybe because the director(s) wish to retire, re-organise or restructure the business or the company is simply not required any more.
Striking off under Section 1003 Companies Act 2006
In certain circumstances it is appropriate to have the company simply struck off – but care needs to be taken to avoid some pitfalls. There are circumstances where the company can be restored to the register and incidents where the Treasury Solicitor can demand payment of the share capital. It is vital to take advice from a licensed insolvency practitioner to determine whether a Members’ Voluntary Liquidation MVL or winding up is the best option.