CVL Timeline: How long does a Creditors’ Voluntary Liquidation take?

A creditors’ voluntary liquidation (CVL) is a legal process a company can undertake if it becomes insolvent. This means it’s unable to repay its debts to creditors and shareholders and there is no possibility of improving the fortunes of the company in the future.

In these circumstances, a company cannot legitimately continue to operate. The business must be closed, and its assets liquidated to repay its debts.

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