Members’ Voluntary Liquidation
The Members Voluntary Liquidation (MVL) process is a procedure for solvent companies initiated by the company’s members and involves the orderly winding-up of the company’s affairs, the appointment of a liquidator to manage the process of realising the company’s assets, ceasing or sale of its operations, payment of its debts (if any) and distribution of surplus assets (if any) among its members.
Our commitment is to initiate and complete the MVL in a timely and cost effective manner.
When is a MVL for a company appropriate?
- It has reached the end of its useful life
- Is solvent and able to pay all its liabilities in full
- Has no outstanding lawsuits
- Does not qualify to apply for strike off
- Owns substantial assets for distribution
- Has pre CGT assets to distribute or is eligible for Small Business CGT concessions
- Dispute resolution between shareholders
What are the benefits?
- Savings in compliance and management costs
- Able to access to stamp duty roll-over relief
- Provides an orderly distribution of assets
- Potential tax savings in final distribution to shareholders
- Potentially provides a higher level of assurance that the company will not be reinstated.
For further information on Members Voluntary Liquidation contact the team at Rapsey Griffiths for a confidential consultation.