What was the Reason for this Members Voluntary Liquidation?
There are many reasons why directors/shareholders decide on a Members Voluntary Liquidation. In this case, the company, based in central London, was a property company that had come to the end of its useful life and it was decided to instigate a solvent liquidation.
The Declaration of Solvency showed that the value of the Company’s assets was mainly made up of Shareholders’ funds. There were no secured creditors, preferential creditors or Crown creditors, and just two non-preferential unsecured creditors.
The liquidation ran very smoothly and was completed in April 2021.
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