Question

Difference between compulsory winding up and voluntary winding

Answer 1

Answer:

Hi buddy

Explanation:

Also known as a Creditors Voluntary Liquidation (CVL), a voluntary liquidation starts when the directors, and owners, decide to close their business as they cannot pay their creditors. ... Neither the Court or Official Receiver are part of voluntary liquidation. The process is quicker than a compulsory liquidation.

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