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Members Voluntary Liquidation

A Members Voluntary Liquidation is a great way to liquidate a company that a director has no desire to trade on.  However, the director must be certain that there is enough assets within the company before signing the Members Voluntary Liquidation papers, as there is a personal guarantee attached that the insolvency Practitioner would claim against should the liabilities not be repaid.

In a Members Voluntary Liquidation, remember that the Insolvency Practitioner will draw fees for the work done. Make sure that you receive a written quote for these prior to starting the liquidation.

A successful Members Voluntary Liquidation will leave no black mark on a directors record as the company closed in a solvent position, which is the main reason for choosing a Members Voluntary Liquidation.

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