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    IVA Glossary > Creditors' Voluntary Liquidation (CVL)
    Creditors' Voluntary Liquidation (CVL)

    Relates to an insolvent company. It is commenced by resolution of the shareholders, but is under the effective control of creditors, who can choose the liquidator, liquidation committee.

    (Please Note: The definitions are not intended to be exhaustive summaries of the Law. They are based on material from The Insolvency Act 1986 , and other Acts dealing with this subject.)

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