Members' Voluntary Liquidation
A members' voluntary liquidation is the orderly winding-up of a solvent company, one that can pay its debts in full.
What it is
Members' Voluntary Liquidation is a procedure that involves the orderly winding-up of a solvent company. A liquidator is appointed to manage the process of realising the company's assets, ceasing or sale of operations, payment of debts (if any) and distribution of surplus assets (if any) among shareholders.
When it is used
Because the company is solvent and able to meet its liabilities, a members' voluntary liquidation is a decision of the company's members (its shareholders). It is commonly used to formally close a company that has reached the end of its useful life, to return capital to shareholders, or to wind up a group structure in an orderly way.
How we help
We can talk you through whether a members' voluntary liquidation is the right path, what is involved, and how any surplus is returned to shareholders. The first conversation is private, considered, and without obligation.
For more information, see ASIC's Insolvency: a guide for shareholders. Read the ASIC guide.
Closing a solvent company?
Tell us roughly where things stand. We will listen first, set out the options in plain English, and only act if you ask us to.