Difference between members and creditors voluntary winding up
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The main difference between a Members' Voluntary Liquidation (MVL) and a Creditors' Voluntary Liquidation (CVL) is that the MVL process is used by solvent (having assets in excess of liabilities; able to pay one's debts.) companies to close down their business. In contrast, although still voluntarily undertaken, a CVL involves closure of a company that is insolvent.
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