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Whether you’re looking to find out more about administration, MVL’s or personal liability, let us help

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for business

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informal arrangement

Although not a formal procedure it may be possible to negotiate payment terms for certain debts, most commonly with HM Revenue & Customs.

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company voluntary arrangement

A company voluntary arrangement, often referred to as a CVA, allows the directors of a company to put forward a proposal to the company and its creditors.

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If your company is insolvent, or likely to become insolvent, then it could enter administration.

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compulsory liquidation

Compulsory liquidation (or ‘winding up’) is, in most instances, instigated by a creditor of the company, by issuing a winding up petition in court for payment of an unsatisfied debt.

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insolvency liquidation

A creditors’ voluntary liquidation or CVL is appropriate where a company is insolvent and is not capable of being rescued, usually because its underlying business is no longer considered viable.

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solvent liquidation (mvl)

When a company reaches the end of its natural life, perhaps due to the retirement of its directors, the end of a specific project, or a group reorganisation then a solvent liquidation, known as a Members’ Voluntary Liquidation or MVL could be appropriate. In certain circumstances an MVL can prove very tax advantageous when there are surplus assets available to be distributed to shareholders.

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for directors

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personal liability

When a company is facing potential insolvency there is a temptation for a director to enter into certain transactions they would not ordinarily do.

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A creditor may obtain a county court judgment (‘CCJ’) or high court judgment if a company has not
settled a debt.

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