Voluntary Liquidation IVA Glossary
What is Voluntary Liquidation?
The placing of the company into liquidation by resolution of the members - there are two types of voluntary liquidation member's voluntary liquidation; and creditor's voluntary liquidation.
The first of these does not involve insolvency and comes about merely because the (shareholders) members wish to have the value of their shareholding realised e.g. on the retirement of the principals of the company was incorporated has been fulfilled.
(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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