Members Voluntary Liquidation (MVL)

You may choose Members’ Voluntary Liquidation if your company is ‘solvent’ (can pay its debts) and:

An MVL takes place when the director(s) swear a Statutory Declaration stating that the company has sufficient assets to be able to pay all of its creditors in full together with all costs and statutory interest within 12 months of the Statutory Declaration of Solvency. It must be signed by the majority of directors. The Statutory Declaration will state that the directors have made a full inquiry into the company’s affairs. The declaration will include a statement of the company’s assets and liabilities as at the latest practicable date before making the declaration.

A general meeting of shareholders will be called in order to pass resolutions for voluntary winding up and for the appointment of a Liquidator.

The appointment will be advertised in The London Gazette within 14 days.

A licensed Insolvency Practitioner will be appointed as a Liquidator who will take charge of winding up the company. Your responsibilities as a director will then change.

Saud & Co will assist you in the drafting of all necessary documents and will deal with all your creditors.

Saud & Co, Registered office: 21 Highfield Road, Dartford, Kent DA1 2JS
Tel 0208 304 0609 - Fax 0700 608 8816
Saud & Co is a trading name of Saud & Company Limited.
Company Registration Number 08402929 – VAT registration 726 1719 34
Authorised by the Insolvency Practitioners Association to act as Licensed Insolvency Practitioners in the UK