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Creditors Voluntary Liquidation (CVL)

A creditors’ voluntary liquidation (CVL) is one of the most common form of liquidation in use in England and Wales.

Self Assessment

Creditors Voluntary Liquidation (CVL)

A creditors’ voluntary liquidation (CVL) is one of the most common form of liquidation in use in England and Wales. This brings to an end the operation of the company.

If want urgent advice on this, please feel free to confidentially contact us +44 (0) 020 7060 5015 or email us info@companyinsolvencyservices.com            

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Challenge

The problem normally is that the business has become insolvent and taking on more trade will only increase the debts.
Taking no action may lead to a creditor serving a winding up petition.

Solution

A CVL via a statutory agreement could you to benefit from it’s very nature;
1. Quickly stop building up more debts
2. Reduce your personal risk
3. Stop HMRC chasing for debts
4. Stop creditors from contacting you
5. Legal way to start a new business under a new legal entity whilst writing off your debts


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