Creditors’ Voluntary Liquidation (CVL)
A liquidation started by an insolvent company’s shareholders, with creditors having an important role in the appointment and oversight of the liquidator.
Also known as: CVL
Related terms
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Voluntary liquidation
A liquidation begun by the company’s members rather than directly by a court order. It may be solvent or insolvent depending on the company’s position.
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Members’ Voluntary Liquidation (MVL)
A solvent liquidation used to wind up a company that can pay its debts in full, usually as part of an orderly closure or distribution to shareholders.
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Solvent liquidation
The winding up of a company that can pay its debts in full, commonly carried out through a Members’ Voluntary Liquidation.
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