Hello
Our limited company is not insolvent yet. It has only one creditor (the landlord) and X years left on the lease. We're closing the company as we've been making serious losses. There is no personal guarantee in place.
Can we do a Members Voluntary Liquidation (MVL)? We don't have enough money to pay ALL the remaining rent on the lease but we can pay it for the next few months, as the rent falls due.
So my questions is:
1. Can we do an MVL? Or do we have to wait until we have no money whatsover and have the creditor (landlord) wind us up?
2. Who pays the liquidator? The company or the directors? Can the company use the last few months rent to pay the liquidator?
3. Can anyone recommend/has anyone used closedforbusiness.ie?
Thanks for your help.
Our limited company is not insolvent yet. It has only one creditor (the landlord) and X years left on the lease. We're closing the company as we've been making serious losses. There is no personal guarantee in place.
Can we do a Members Voluntary Liquidation (MVL)? We don't have enough money to pay ALL the remaining rent on the lease but we can pay it for the next few months, as the rent falls due.
So my questions is:
1. Can we do an MVL? Or do we have to wait until we have no money whatsover and have the creditor (landlord) wind us up?
2. Who pays the liquidator? The company or the directors? Can the company use the last few months rent to pay the liquidator?
3. Can anyone recommend/has anyone used closedforbusiness.ie?
Thanks for your help.