Members voluntary liquidation |
Members Voluntary Liquidation is a process used to wind up a solvent company that has ceased trading or is dormant.
Advantages of a members voluntary liquidation:
- Savings on ongoing audit and accounting costs
- Savings in management time previously taken up with the preparation of financial information and tax returns
- Reducing risk to the company and its directors by avoiding corporate memory loss. This can happen when a company is being inactively maintained
- Often used as part of a corporate simplification process where a group wants to streamline its corporate structure
- Can be a very tax efficient method of distributing cash/ assets to shareholders
- Averts the danger of an inactive company being involuntarily struck off by the Companies Registration Office during one of their regular checks. This can happen if the requisite Annual Returns have not been filed. Involuntary strike off can result in the loss of a company’s limited liability protection
How we can help you
We can guide you through all aspects of the Members Voluntary Liquidation process by:
- Advising you how best to prepare a company for liquidation
- Assisting you in putting a company into liquidation
- Acting as liquidator of the company
- Providing a comprehensive service that is excellent value for money
We regularly act as liquidators in Members Voluntary Liquidations for companies in all sectors of the economy including financial services, consumer business, manufacturing and property.
We have acted as liquidators for many small, privately owned, companies right through to subsidiaries of large multi-nationals. Our clients include Nortel Networks, Goldman Sachs, Barclays Bank, Zurich and National Australia Bank.
If you would like a free initial consultation to help you decide whether Members Voluntary Liquidation is appropriate for your company, please contact Warren Baxter at +353 1 417 2625 or wabaxter@deloitte.ie. Complete confidentiality is assured.
