A Guide to Members Voluntary Liquidation

The Procedure

RNF Business Advisory Limited will provide the necessary board minutes for the meeting of the board of directors where it will resolve that the meeting of the company’s members should be called. The required notice to members to convene the meeting required by Section 84 of the Insolvency Act 1986 (‘IA86’) shall be drafted and RNF Business Advisory Limited will attend the board meeting if requested to do so by the directors.

Declaration of Solvency

The director(s) must declare that the company will be able to pay its debts in full together with interests and costs within a period not exceeding 12 months from the date of the commencement of the liquidation. The director(s) must draw up this declaration to a date not more than 5 weeks prior to the date of the commencement of the liquidation.

Whilst RNF Business Advisory Limited may assist in preparing the declaration of solvency the directors shall be and remain responsible for providing us with all of the information relating to the company’s assets and liabilities (be those actual, contingent or otherwise).

Convening of the meeting of members

RNF Business Advisory Limited will notify all members of the proposed meeting at least 14 clear days prior to it taking place, unless members have or will consent to receiving shorter notice. We will prepare the resolutions and minutes of the meeting.

We will provide general advice up to the date of the meeting of members in relation to the engagement and the procedures to be undertaken by the liquidator following his/her appointment. There may be certain mattes upon which we are unable to give advice as this may impact on the insolvency practitioner(s) ability to remain independent and objective in relation to the proceedings. Where this occurs, we will confirm this and suggest you seek independent legal advice.

Working with you

We will work with you to explore your situation in detail and provide clear, jargon-free, honest advice. Rest assured, anything discussed with us remains confidential.

All initial consultations are free of charge and without obligation.

When you need help

Call Ruth on 01622 764 612
Call Filippa on 020 7253 7171

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Testimonials

"The liquidator is Filippa Connor, and from discussing the issues involved, I have found her to be thoroughly professional and alert to our concerns about the behaviour of [the company in liquidation]."

Mr R Hulls, Independent Surveyors Association

"Dear Filippa, thank you for delivering an impassioned speech on the issues that frustrate you and your fellow practitioners. We feel sure the points you raised were noted by those who mattered and we are especially grateful for your commitment."

Peter Sargent & David White R3 (Association of Business Recovery Professionals)

"I found Ruth and her team to be patient and approachable as they were always at the other end of the phone to answer any questions that we may have thereby providing us with comforting assurances as much as possible. They were also frank and candid in telling us where they did not have an answer."

Mr L Company Director

"I would like to re-iterate my thanks to Ruth and her staff for putting my finances back on track, so efficiently and effectively. As a now retired person, I hesitate to imagine my financial outlook had you not successfully orchestrated my IVA."

Mr S

"Filippa's words of wisdom started me on a path of recovery and I will be forever indebted to her for her understanding and compassionate approach."

CEO from Devon

"Ruth and her team helped me through a difficult time in a caring and supportive way. I know I can always go to Ruth for advice and guidance which will be given impartially and fairly for all parties concerned. This is very much an open, clear and professional relationship which I appreciate."

Mr B IVA

"The most important thing about Ruth's approach is she is professional, not pompous. She is sympathetic to clients who have problems, listening and finding solutions..."

Mr M. Referring Accountant

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