This director-led liquidation is the most common form of insolvent liquidation within England. A company will enter this type of liquidation if they are struggling with their cash flow in a bid to pay off their debts on time and realise that continuing trading will not benefit themselves or their creditors.
It must be noted that a Creditors’ Voluntary Liquidation can also be used as a form of corporate restructuring if the company director feels the underlying business can have a profitable.
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