What is Creditors Voluntary Liquidation (Copy)?

A CVL is classed as a terminal procedure and is a very efficient way of closing down an insolvent company.  Although a CVL is classed as a closure option, this does not mean that the business, assets and employees cannot be incorporated into a new entity.  

There are well-established rules for dealing with employees, landlords, pensions, creditors, property and company assets that enter a CVL. Having an experienced insolvency advisor who takes the time to plan and explain this process can make a great difference to directors considering this as an option to close their company.