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Voluntary liquidation


 
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Voluntary liquidation

Introduction

A voluntary liquidation occurs where the members pass a resolution to go into liquidation. The type of resolution needed depends on the circumstances:
  • Where the period fixed for the duration of the company expires or an event occurs upon which the articles provide that a company should be wound up, an ordinary resolution must be passed.
  • A special resolution must be passed if the company is being wound up for any other reason.

Types of voluntary liquidation:

  • A members' voluntary liquidation is used where the company is solvent.
  • A creditors' voluntary liquidation is used where the company is insolvent.
Members' voluntary winding up
Creditors' voluntary winding up
Created at 8/21/2012 2:49 PM  by System Account  (GMT) Greenwich Mean Time : Dublin, Edinburgh, Lisbon, London
Last modified at 11/14/2012 3:51 PM  by System Account  (GMT) Greenwich Mean Time : Dublin, Edinburgh, Lisbon, London

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ACCAPEDIA - Voluntary liquidation