Members’ Voluntary Liquidation (MVL) is an effective method for shareholders to unlock company assets, structure organisations in a tax efficient manner or dispose of dormant companies that no longer have any useful purpose.
The process brings finality to the corporate responsibilities of directors and avoids many of the potential problems associated with striking off or maintaining a dormant company.
How can we help?
We bring together a combination of business management, tax, accounting and company law skills to conduct an efficient, orderly wind down and distribution of assets. We advise many businesses on group rationalisations, tax planning and restructuring in Ireland. MVL’s can be an effective process in achieving the required results.
The key characteristics of an MVL:
- it is a solvent winding-up initiated by the shareholders with no creditor involvement;
- the company directors swear a Declaration of Solvency stating that the company can pay any remaining debts in full within 12 months;
- following completion of the liquidation the company is dissolved;