Not all companies exist forever; indeed, the average lifespan of companies in many jurisdictions is less than 10 years. When the time comes to wind up an entity, we recommend that companies take the steps of a Members Voluntary Liquidation, a process that must be managed in meticulous detail if all legal requirements are to be met.
Conyers’ voluntary liquidation and dissolution teams in Bermuda, the BVI and the Cayman Islands offer best practice procedures to meet all statutory requirements. We provide qualified professional liquidators to conduct the voluntary winding up of corporate entities in accordance with local laws.
Our liquidation teams will ensure that your entity’s legal existence will be concluded in an orderly fashion, bringing certainty and finality to its affairs.
The liquidation process for solvent companies in good standing with government authorities, and not subject to any current or pending litigation, requires directors to sign an indemnity in favour of the appointed liquidator. The liquidation process can be completed in a timely fashion once assets have been disposed of and liabilities settled.
Our services include:
- Provision of a liquidator for voluntary liquidations
- Drafting, filing and submitting of required paperwork in accordance with the jurisdiction’s laws
- Preparation of a liquidation plan for more complicated dissolutions
- Advice on voluntary liquidation versus striking off
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Our purpose is to help clients pursue the right legal, financial and commercial paths. To help you make the right choices for your individual needs, or to learn more about our jurisdictions, contact one of our professionals today.
Connect with a Conyers Client Services Representative