What is Voluntary Liquidation?
Litigation [Courts & Tribunals]
Liquidation is the process of winding up and finalising a company’s affairs. The most common type of insolvent liquidation is a creditors’ voluntary liquidation. This is because it relatively straight-forward, inexpensive and initiated by the directors and shareholders, usually by way of a creditors vote for liquidation following voluntary administration, a terminated deed of company arrangement, or an insolvent company's shareholders resolve to liquidate the company and appoint a liquidator.