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Voluntary liquidation
Practical Law UK Glossary 0-379-0853 (Approx. 3 pages)
Glossary
Voluntary liquidation
A non-court based procedure to wind-up or liquidate a company, instigated voluntarily by either the members or the creditors of the company. There are two types of voluntary liquidation:
- Members’ voluntary liquidation of solvent companies; and
- Creditors' voluntary liquidation of insolvent companies.
Both result in the dissolution of the company.