An MVL is sometimes a desirable course of action when the owners or directors of a business want to wind it up. As such, MVLs are an appropriate choice for solvent firms. We can advise you of what to do if your business is insolvent, too, of course. That said, an MVL will still require careful management including understanding what a company’s responsibilities are with respect to any outstanding debt it may have.
At Salient Insolvency, we have a wealth of experience with all types of voluntary liquidation processes to share. If you would like to discuss the implications of proceeding with an MVL or would like to know more because another shareholder or director has suggested applying for one, then we are at your disposal.