An MVL is also known as a solvent liquidation with the company ceasing to trade. Following receipt of the Liquidator’s final report, Companies House will dissolve and strike off the company.
An MVL process is initiated by the directors but the choice of the liquidator is made by the members (or shareholders) of the company. Some common reasons for closing down a solvent company include the retirement of the owners or it is required as part of a group restructuring.
The role of the liquidator is to realise the company’s assets, then settle all its liabilities in full, with any cash remaining being passed to shareholders. These payments to shareholders are treated as capital distributions so taking early professional advice regarding timing and planning is crucial.
If an MVL is the preferred option, we will help you with each step along the way and will manage the process.
Our general practice experience within the SME marketplace provides us with a full understanding of the stresses and difficulties in running a small business. We recognise that taking advice as early as possible is crucial to ensure that as many options as possible are available to you.
We are able to provide a highly personalised, compassionate and value-for-money service to all clients. Our work is partner-led so that you receive a high level of expertise and experience at all times. Once we fully understand the problem, we offer practical and constructive advice which is specific to your situation. We will explain the options available to you, answer any questions you may have and work with you to provide a tailored solution.
We offer a free initial consultation (on a confidential basis) to fully understand your specific circumstances. Please contact us on 020 7523 5322 or e-mail firstname.lastname@example.org