Creditors’ Voluntary Liquidations - What You Need to Know

Introduction

There has been considerable attention focused on the recent reforms to the insolvency legislation enacted by the Corporate Insolvency and Governance Act 2020, including the new moratorium and restructuring plan procedures.

However, by far the most encountered corporate insolvency procedure are creditors’ voluntary liquidations (CVLs), which over the last decade have accounted for about two-thirds of all new corporate insolvencies. This is likely to continue to remain the case as the economy emerges from the effects of the COVID-19 pandemic and temporary government support measures are tapered back or withdrawn entirely and business distress levels are expected to increase.

This new webinar will provide an introduction to CVLs to those who are new to insolvency practice or only encounter CVLs infrequently.

What You Will Learn

This webinar will cover the following:

• How a CVL commences
• The effect of a CVL on directors
• The role and powers of the liquidator
• Information to creditors and oversight of the liquidator
• How creditors’ claims are dealt with
• Distribution of the company’s property
• Dissolution of the company after winding-up

This webinar was recorded on 6th January 2021