Members Voluntary Liquidation

PURPOSE

If a company is solvent and is no longer required, the directors and shareholders can have a meeting and place the company into a Members Voluntary Liquidation.

BENEFITS
  • The shareholders of the company effect the appointment which can occur within one (1) week.
  • It is the Liquidator’s role to realise the company’s assets and distribute the money to the shareholders. In some circumstances it may be possible to distribute the assets in specie.
  • There may be certain tax benefits of performing this type of liquidation in relation to distributions from the company.
  • There may also be other benefits of this type of liquidation, particularly in circumstances where the company traded in a particular high risk industry. A formal liquidation of this type can be more appropriate than a deregistration.
Jones Partners have been performing these administrations for an extensive period of time and have a streamlined approach to these appointments to enable an effective and efficient approach to winding up companies under this option.