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Members Voluntary Liquidation – where directors/shareholders close a company with large accumulated reserves.In a Members Voluntary Liquidation the company is solvent, creditors are paid in full and the remaining funds transferred to the directors/shareholders.A court liquidation starts as a result of a court order, made after an application to the court, usually by a creditor of the company.When a company is being liquidated because it is insolvent, the liquidator has a duty to all the company’s creditors.
If a company goes into liquidation and owes you money, whether you get it back from the liquidator depends on a number of factors, including whether there is money available to make any payments at all.
It will be removed (‘struck off’) from the register at Companies House, which means it ceases to exist. For a solvent company whose directors have decided to stop trading it’s members voluntary liquidation.
Alternatively you can choose to close your company by striking it off the Companies Register.
You can choose to liquidate your limited company (also called ‘winding up’ a company).
The company will stop doing business and employing people.