| 单词 | members’ voluntary liquidation |
| 释义 | members’ voluntary liquidation members’ voluntary liquidation(members’ voluntary winding-up) The winding-up of a company by a special resolution of the members in circumstances in which the company is solvent. Before making the winding-up resolution, the directors must make a declaration of solvency. It is a criminal offence to make such a declaration without reasonable grounds for believing that it is true. When the resolution has been passed, a liquidator is appointed; if, during the course of the winding-up, the liquidator believes that the company will not be able to pay its debts, a meeting of creditors must be called and the winding-up is treated as a members’ compulsory liquidation. |
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