If you are dealing with business insolvency or considering liquidation for taxation purposes, we have a team of highly trained staff which including Insolvency Practitioners who are available to provide confidential advice.
We have wide experience of the three most frequently used types of liquidation in Ireland: creditors’ voluntary liquidation; members’ voluntary liquidation; and court liquidation.
A creditors’ voluntary liquidation (CVL)
A creditors’ voluntary liquidation (CVL) is frequently used by insolvent companies that have no reasonable prospect of survival. It stops the company’s creditors’ position from deteriorating and helps bring closure to an unsustainable position for a company and its directors, with all the attendant anxiety and stress.
Members’ voluntary liquidation (MVL)
Members’ voluntary liquidation (MVL) is a process used to wind up a solvent company that has ceased trading or is dormant. It offers savings on ongoing audit and accounting costs and in management time previously taken up with the preparation of financial information and tax returns.
A court liquidation
A court liquidation occurs when the court puts an insolvent company into liquidation after hearing a winding up petition.