Background to this Members Voluntary Liquidation
With its registered office based in Reading, Homejoy Europe Limited was an overseas subsidiary of a US based company. The directors and shareholders decided on a Members Voluntary Liquidation as part of their overseas restructuring plans and appointed our London office as the liquidator.
The case required detailed work regarding intercompany debts, whilst ensuring that HMRC clearance was obtained at all points. This was of particular importance when detailing with the parent company and its subsidiary which were in different jurisdictions.
The outcome saw a £77k repayment of intercompany debt and a final cash distribution of £5k to the USA based shareholders in the parent company.
