Creditors' Voluntary Liquidation (CVL) is the process of winding up a company by a special resolution of its members when the company is insolvent. It involves a meeting with creditors and appointing a liquidator to manage the liquidation process.
Creditors' Voluntary Liquidation (CVL) is a process whereby the directors of a company make the decision to voluntarily liquidate the company to pay off its debts, with the creditors actively participating in and overseeing the liquidation process.
Voluntary liquidation, also known as voluntary winding-up, is a process where a company's directors choose to dissolve the company, usually to terminate its operations and distribute its assets.
