— INSOLVENCY SERVICES | LIQUIDATIONS

Creditors Voluntary Liquidation

A Creditors Voluntary Liquidation (CVL) is the most common liquidation process in Cyprus. A CVL is appropriate when:

  • The Company is insolvent
  • The Company does not seem to be viable even after restructuring
  • The Directors do not have the confidence or the drive to rescue the Company
  • The Directors have convened meetings of shareholders and creditors to agree to place the company under liquidation and appoint a liquidator.

The responsibility of the liquidator appointed by the members and creditors is to:

  • Realise the Company’s assets.
  • Agree to the claims of the company’s creditors and pay dividends
  • Investigate the company’s affairs and the Director’s conduct
  • Report to the Office of the Official Receiver

How can we Help

  • Advise board directors seeking advice on their options for dealing with insolvent companies
  • Advise on all the necessary steps to place a company into liquidation
  • Act as the Examiner
  • Relieve some of the stress by explaining the process and advising you on how to fully prepare yourself for the liquidation
  • Deal with all issues, including employee claims, taxes and creditors
Experts you can trust

I2R SOLUTIONS