Members Voluntary Liquidation
A members voluntary liquidation is, as the name suggests, a voluntary liquidation for the benefit of its members. It applies to companies that are solvent and are finalising their existence usually associated with the retirement of company owners or a company fulfilling its needs and ending its useful life.
To be eligible for a members voluntary liquidation the company must be able to declare that all of its outstanding obligations can be met within twelve months. After meeting the claims of any creditors the surplus assets of the company are then distributed to its members.
If you are seeking any further information on undertaking a members voluntary liquidation please contact us on 03 9818 8800 so we can answer any questions you have and assist with this action.