Liquidating a limited company
it is able to pay off its debts, usually within a 12 month period.
Company directors often initiate a CVL to avoid compulsory liquidation – a type of liquidation that’s initiated by creditors via a court order.Check our Dormant Company Accounts FAQ’s You may want to consider choosing a dormant company route if: How to close a limited company through the liquidation process will depend on the status of the company.There are three types of liquidation services to close a limited company in Ireland: Members Voluntary Liquidation [MVL] – a members voluntary liquidation may be used to close a limited company when the company is deemed to be solvent – i.e.We look at all of the issues and help you through liquidation in a timely, efficient, cost-effective and positive manner, whether it is handled on-line, over the phone or face to face.We will ensure that your companies liquidation is handled correctly and that all of the recognised procedures are followed.We use secure technology to allow you to start the company insolvency process on-line quickly and in a straightforward way.
The starting point is our free liquidation quote page.
There are three possible routes to consider when closing a limited company: The voluntary strike off route can be used to close a limited company that has ceased to trade or has never traded and have gross assets and gross liabilities of less than €150.
The voluntary strike off procedure is relatively straightforward and inexpensive and thousands of voluntary strike off’s are performed in Ireland every year.
If your company is insolvent and can no longer pay its creditors, winding it up voluntarily allows you to close the company and partially repay its creditors.
If your company is insolvent and hasn’t got any chance of future success, liquidation brings it to an end.
A dormant company is one that doesn’t trade and has no transactions.