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单词 creditors’ voluntary liquidation
释义

creditors’ voluntary liquidation

creditors’ voluntary liquidation(CVL) The winding-up of a company by special resolution of the members when it is insolvent. A meeting of creditors must be held within 14 days of such a resolution and the creditors must be given seven days’ notice of the meeting. The creditors also have certain rights to information before the meeting. A liquidator may be appointed by the members before the meeting of creditors or at the meeting by the creditors. If two different liquidators are appointed, the creditors’ nominee is usually preferred. CVLs, also known as creditors’ voluntary winding-ups, are the most common form of liquidation in use in the UK. Comparemembers’ voluntary liquidation.

credit rating An assessment of the creditworthiness of an individual or a firm, i.e. the extent to which they can safely be granted credit. Traditionally, banks have provided confidential trade references (seebanker’s reference), but recently credit-reference agencies (also known as rating agencies) have grown up, which gather information from a wide range of sources, including the county courts, bankruptcy proceedings, hire-purchase companies, and professional debt collectors. This information is then provided as a credit reference, for a fee, to interested parties. The consumer was given some protection from such activities in the Consumer Credit Act 1974, which allows an individual to obtain a copy of all the information held by such agencies relating to that individual, as well as the right to correct any discrepancies. There are also agencies that specialize in the corporate sector, giving details of a company’s long-term and short-term debt. This can be extremely important to the price of the company’s shares on the market, its ability to borrow, and its general standing in the business community. Credit ratings for the debt instruments of large corporations are provided by such organizations as Moody’s Investor Service and Standard and Poor’s (seebond credit rating). See alsoancillary credit business.

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更新时间:2025/1/22 18:51:04