Solvent Liquidation
A HIGHLY COST-EFFECTIVE SOLUTION TO WIND UP A SOLVENT BUSINESS
If a company is looking to permanently close and is financially stable — Wexted can assist in organising and facilitating a Members Voluntary Liquidation (MVL).
An MVL ensures all assets are realised and collected, all tax lodgments are up to date and all creditors are paid in full. Any remaining surplus is then distributed to shareholders.
WHAT ARE THE KEY ADVANTAGES OF A MEMBERS VOLUNTARY LIQUIDATION?
- Independent oversight — Wexted will independently oversee the winding up of the company’s affairs. This can be of particular importance where there is a shareholder dispute over how funds are to be distributed;
- Tax benefits — There are several tax benefits available to directors and shareholders including Capital Gains Tax exemptions; Asset distribution — Ability to distribute assets “in specie” in accordance with a Company’s constitution;
- Cost-effective — MVL’s are typically undertaken on a fixed fee basis — agreed upfront with the company’s Directors and Shareholders.
A Members Voluntary Liquidation is the best way for a solvent company to close.
THE DIFFERENCE BETWEEN SOLVENT AND INSOLVENT LIQUIDATION
Solvent liquidation is when a company is financially stable — but chooses to close permanently. Insolvent liquidation is when a company can no longer pay its debts and is required to sell off assets in order to pay creditors.
Insolvency
COUNTRY RUGBY LEAGUE OF NEW SOUTH WALES LIMITED
TO ASSIST WITH CRL’S AMALGAMATION WITH NEW SOUTH WALES RUGBY LEAGUE, CRL MEMBERS APPOINTED US AS MEMBERS VOLUNTARY LIQUIDATORS FOR THE PURPOSES OF A SOLVENT WINDING UP.
Insolvency
Members Voluntary Liquidators: Freedom Insurance Group Limited
WE ARE MEMBERS VOLUNTARY LIQUIDATORS OF FREEDOM INSURANCE GROUP LIMITED (IN LIQUIDATION) AND ITS 6 SUBSIDIARIES (THE GROUP).
Insolvency
PRACTICE ADVANTAGE PTY LTD
WEXTED ADVISORS WERE APPOINTED MEMBERS VOLUNTARY LIQUIDATORS OF A CONTENT AND MARKETING PLATFORM.