Members Voluntary Liquidation

A Members Voluntary Liquidation is the liquidation of a solvent company by adoption of a shareholder resolution to voluntarily wind up the business. The shareholders also choose and appoint a liquidator.

Since a Members Voluntary Liquidation is not an insolvency procedure, a Statutory Declaration of Solvency must be made by the company directors. Although the courts do not need to be involved, a qualified liquidator must be appointed.

A Members Voluntary Liquidation is also known as Members Voluntary Winding Up, or simply Voluntary Winding Up.

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