Overseas Members Voluntary Liquidation Testimonial

Successful Members Voluntary Liquidation by our London Office for an Overseas Client

Our London office has recently completed a successful Members Voluntary Liquidation for Homejoy Europe Limited, a cleaning services company. The team was headed up by Antony Batty (licensed insolvency practitioner) and Sunney Sagoo, a specialist in Members Voluntary Liquidations. This article features a testimonial from a happy client, with perhaps the main point being that the MVL was for an overseas client, which didn’t prove any obstacle at all to a smooth process.

Background to this Members Voluntary Liquidation

With its registered office based in Reading, Homejoy Europe Limited was an overseas subsidiary of a US based company. The directors and shareholders decided on a Members Voluntary Liquidation as part of their overseas restructuring plans and appointed our London office as the liquidator.

The case required detailed work regarding intercompany debts, whilst ensuring that HMRC clearance was obtained at all points. This was of particular importance when detailing with the parent company and its subsidiary which were in different jurisdictions.

The outcome saw a £77k repayment of intercompany debt and a final cash distribution of £5k to the USA based shareholders in the parent company.

Testimonial from a Delighted Client

Our client has provided us with the following testimonial for our work, highlighting our professionalism, efficiency and communication skills at a value for money price. Above all, perhaps, it is gratifying to hear they will be contacting us regarding future projects.

“Dear Sunney,

It was a pleasure working with you, Mr. Batty and all the staff at Antony Batty & Company. Thank you for assisting us in the wind down of our foreign subsidiary located in the UK. A large portion of our business involves winding down insolvent US companies and many of those companies have foreign subsidiaries. 

It is nice to know we have a trusted firm in Europe who can help us with that process.  Being overseas did not encumber the process at all and your firm proved to be professional, efficient and communicative, all at a very fair price. We appreciate all of that and will certainly contact you regarding future projects.”

Sherwood Partners: Silicon Valley | Los Angeles | New York

Contact us for Help and Advice with Members Voluntary Liquidations

With offices based in London, Brentwood, Salisbury and The Cotswolds, our team of Members Voluntary Liquidation specialists handles appointments from clients across the UK, and, as in this case, from overseas too. Click here to see some more MVL testimonials.

Interested in this Liquidation Testimonial? Want to find out more?

If you or your business is facing insolvency, the sooner you contact us, the more we can help.

Contact us for a FREE Initial Consultation

If you are looking to use a solvent liquidation to distribute assets and cash to the directors and shareholders, please contact us or call us on 0208 088 0633 for a FREE initial discussion. We offer ‘big four’ levels of expertise and service, at value for money prices.

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