Creditors’ Voluntary Liquidation

Administration is designed to protect a company or partnership whilst plans are formulated to achieve one of the statutory objectives

A licensed insolvency practitioner appointed to manage the affairs of a company in administration.

Bankruptcy is used to deal with an individual who is unable to pay their debts

Mandatory insurance cover to protect the uncharged assets of an estate, required by legislation for a licensed insolvency practitioner once formally appointed to act.

Another name for a bond

Company Directors Disqualification Act (1986)

An act concerned with the disqualification of persons from being directors or otherwise concerned with a company’s affairs. This act is triggered when a company is placed into administration, receiver [..]

A Company Voluntary Arrangement is a procedure which enables an insolvent company to reach an agreement with its creditors to delay or compromise the payment of its debts.

Creditors’ Voluntary Liquidation is a procedure whereby the directors of an insolvent company can voluntarily take steps to wind up the company.