CORPORATE INSOLVENCY

Members’ Voluntary Liquidation

The purpose of liquidation of an insolvent company is to enable a fair form of distribution of the company’s assets amongst its creditors, and to enable an investigation of the company’s affairs with the view to determining the circumstances leading to the winding up.

For Members’ Voluntary Liquidation, the Kazar Slaven partners, individually or jointly, act as the liquidator to wind up the affairs of the company.

This method of winding up is used when a company is solvent and the corporate structure is no longer required. This often occurs where a business has been sold or is completed as part of a reconstruction of a group’s affairs.

All creditors will be paid in full and surplus funds distributed to the shareholders. The company’s shareholders instigate a Members’ Voluntary Liquidation by special resolution. This method of winding up is used when a Company is solvent, and the corporate structure is no longer required.  This often occurs where a business has been sold, or is completed as part of a reconstruction of a group’s affairs.

All creditors will be paid in full, and surplus funds distributed to the shareholders.

A members’ voluntary liquidation is instigated by the Company’s shareholders by special resolution.