CVL - Creditors Voluntary Liquidation
Creditors' voluntary liquidation
Where a company has more liabilities than assets or cannot pay debts it is usually advisable to liquidate via a CVL. It is a quick way to close a limited company and to stop creditors putting business owners under pressure.
The directors and shareholders place the company into liquidation and the creditors confirm their choice of liquidator. The liquidator deals with the assets and liabilities of the company sharing them out equally between each class of creditor.
A voluntary liquidation has many benefits and allows you to comply with your statutory and fiduciary duties in relation to the company, and it may be that the assets available within your company will pay the costs of the process.
If you want to minimise your business losses and personal risk please call for an informal chat on 020 8290 9876 and ask to speak with either Jeremy Frost or Carisse Hollett or Patrick Wadsted . We cover the whole of the UK and look forward to working with you.
The popularity of our MVL packages and fixed fee price levels have led us to develop similar service levels for our CVL's.
We understand our client's expect to know precisely how much they will be paying when they contact us for a quote to place their company into liquidation.
Of course the prices will range depending on circumstances, but we have evaluated the market, our competition and most importantly our clients and have developed a Bronze, Silver and Gold service approach to our CVL's. Details are below, but as always it is good to talk to our experienced advisors, and we would encourage you to call our landline 020 8290 9876 for a preliminary chat.
Facing the loss of your business and its continued income stream is traumatic - but we are here to listen, advise and assist. We hope the prices below will reflect our commitment to providing professional and honest advice at an affordable price.
CVL Bronze £2,000 plus disbursements and VAT
- Qualifying criteria of no more than 2 directors and 2 shareholders
- No ROT, No employees, No assets, No finance agreements, No pensions, No Overdrawn directors loans and up to 10 creditors
CVL Bronze Plus £3,000 plus disbursements and VAT
- Qualifying criteria of under £5,000 of assets
- Up to 2 employees and up to 10 creditors including HMRC
- No finance agreements and No Pensions
CVL Silver £4,000 plus disbursements and VAT
- Assets over £5,000
- Finance agreements and warranties and pensions accepted
- Creditors between 16 and 35
CVL Gold £6,000 plus disbursements and VAT
- Fixed Assets including property and lease
- Large creditor claims and complex creditor claims
- Pending litigation
- Bespoke advice
- Shareholder and Director disputes