企业清算与重组

Creditors’ Voluntary Liquidation (“CVL”)

A creditors’ voluntary liquidation (CVL) is initiated by the directors of the insolvent company. Instead of continuing with the business when the directors foresee that there has been no hope in reviving the company, in order to minimise loss, directors of company may initiate a creditors’ voluntary winding-up. This might be an ideal situation for an insolvent company that has no possible future. It is important for the directors to take advice at an early stage, instead of falling into insolvent trading risk.

Causes of Creditors’ Voluntary Liquidation

A creditors’ voluntary liquidation happens, when the company itself declare that it has been insolvent (i.e. unable to meet its liabilities as it fall due) and decided to wind-up the company voluntarily instead of continuing operations and incurs further losses.

Process of Creditors’ Voluntary Liquidation

The directors and shareholders will hold a meeting to confirm that the company is insolvent and proceed with the decision to place the company into a creditors’ voluntary liquidation. Once agreed, a creditors’ meeting will then be held. A licensed insolvency practitioner will then be appointed to administer the liquidation administration of the company.

Outcomes of Creditors’ Voluntary Liquidation (“CVL”)

All assets of the insolvent company will be vested and managed by an insolvency practitioner or more commonly known as a liquidator. The assets will then be disposed of by the liquidator and surplus amount will then be distributed to the creditors according to ranking of priorities in the Act.  At completion of the liquidation administration, the company will be deemed dissolved upon lodgement of relevant documents with the authorities.

How Can Bizboard Help?

Placing a company into a creditors’ voluntary liquidation is not difficult if you work with the right advisor. Whether you are looking for ways to wind up your company on a voluntary basis or to rescue your business, call us today to schedule a free consultation and let us help you and your company. Our highly qualified team has worked in various industries and has extensive knowledge of business and its impact on stakeholders when a company faces financial distress.

想了解更多关于我们的企业清算与重组服务?

您是否正在考虑采取行动收回债务?还是您在追回债务时遇到任何问题(或在履行债务义务时遇到困难),或者贵公司有破产交易的风险?与我们联系,以进行免费且无义务的讨论,我们如何在清算和重组方面为您提供帮助。