Closure of No Longer Required Company
The director of a group of companies approached us when one of his companies that had been used to provide a legal services business was no longer required and that he no longer wished to pursue that line of work.
This type of business may have potential claims arising from advice given and so to take advantage of the protection that the MVL affords it was decided to implement the MVL procedure rather than simply let the company be struck off at companies house – which would allow any future creditors with old claims to resurrect the company and pursue it via an insolvent winding up, leaving the directors exposed with potential personal liabilities.
The liquidation will be complete within 6 months.
It is important to take early advice - whilst all options are still open. The longer matters are left, the less control you will have over the outcome, and the harder it becomes to save a business
25 April 2016
22 March 2016
20 January 2016
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