Purpose & How it Works
If a company is solvent and no longer trading or required, then the directors and shareholders can place it into a Members Voluntary Liquidation to formally bring the affairs of the company to an end. Such situations can occur with intergenerational companies that have served their purpose or where a company that has sold its business and the structure is no longer required, as well as many other instances.
- The directors and shareholders of the company can effect the appointment within two (2) business days generally.
- 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 regarding distributions from the company (i.e. CGT).
- 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 a streamlined approach to initiating these appointments, as well as acting on more complex liquidations where there are significant assets to be dealt with and also taxation and shareholder considerations.
Why we are trusted by clients
We take the time to listen
We listen first and then act. Helping you is our first priority.
Helping you regain control
Control of your finances, your business and your life.
A client focused approach to Insolvency
Our role is to earn your trust and so you know you have someone on your side.