Members' Voluntary Liquidation

Members' Voluntary Liquidation (MVL) is a process used when a company's owners, or members, decide to close the business while it can still pay its debts. It involves appointing a liquidator to sell the company’s assets, settle any outstanding liabilities, and distribute any remaining funds to the members. This process ensures that the company is wound up in an orderly manner, allowing members to receive their due entitlements after all debts are covered, rather than facing potential losses or complications associated with insolvency. MVL is typically used by solvent companies voluntarily winding up their affairs.