Creditors' Voluntary Liquidation — Circumstances in Which an Insolvent Company May be Wound up Voluntarily

Summary

This practice note details when an insolvent company may be wound up by its own directors. It is not a creditor led winding up. The company must be insolvent in order for this process to happen, otherwise the company may be wound up by way of a solvent Members Voluntary Liquidation ("MVL").