A Company Voluntary Arrangement (CVA) is the principal alternative to liquidation. The company voluntary arrangement is a formal arrangement with the company’s creditors typically being paid over a 5 year period, repaying a fixed amount which is lower than the actual outstanding debt, which allows a business to continue to trade whilst repaying its debts at an agreed rate.
CVL is short for "Creditor's Voluntary Liquidation".
Direct about insolvency, Direct about your insolvency options, Direct about Voluntary Liquidation FeesInsolvency Direct is the only place to liquidate your company online.
In the UK a limited company is a company with limited liability amongst its owners. Therefore the company's shareholders are not liable for more than their investment in the event of insolvency proceedings such as liquidation or administration.
When a company is solvent, it is controlled by the Directors. When a company is insolvent, the Directors can place the company in the hands of a Liquidator, who then deals with the Liquidation. The Directors duties and powers cease, and they can move on to new opportunities, (having learned a few hard lessons along the way).
A Member's Voluntary liquidation or MVL is a solvent liquidation by a limited company that will pay everything due to it's creditors, employees, and shareholders, aswell as any tax owed.
Visit our MVLDirect website for more information on Members Voluntary liquidation
At Insolvency Direct we are only Insolvency Service with a Direct Online Liquidation System.
Companies are formed online, and now, they can be placed into Liquidation online. We are the only direct online insolvency system, we are unique.
Is liquidating Online any different to the old way?
Liquidating your company online follows the same procedure as liquidating offline. The main advantage to you is the fact that liquidating your limited company online with us is much cheaper, much faster, much easier and more convenient for you, the Director.
is a liquidation (of a limited company) that is supported by the company shareholders (hence the term voluntary).
There are 2 types of voluntary liquidation:
Members voluntary liquidation
A Members voluntary liquidation is when the directors liquidate the company (the shareholders must approve this) when it is solvent
Creditors voluntary liquidation
A CVL o creditors voluntary liquidation is when the directors liquidate the company when it is insolvent
and they cannot fulfil their obligations to their creditors.
Find out if your company is insolvent
You can learn more in our Liquidation Advice