Testimonial for the Members Voluntary Liquidation of APT.64 Limited
Steve Illes and Sunney Sagoo are Thanked for “Great Work and Support”
On 29th April 2020, the final meeting was held for the Members Voluntary Liquidation and winding up of management consultancy APT.64 Limited, which has been led by one of our Licensed Insolvency Practitioners, Steve Illes and Senior Insolvency Administrator Sunney Sagoo at our Central London Office. We were appointed as the Liquidator on 9th July 2019, and the final cash distribution to the sole shareholder was £92,007.
Our Client Was Delighted with our Team’s Assistance during the MVL
As we always say, our clients say it best:
“I want to take this opportunity to thank Steve, the staff at ABc London and you, Sunney, for all your support and great work to date. I am very grateful to have had your assistance with this matter.”
Gary Bonilla-Latoni (USA)
The Details of this Members’ Voluntary Liquidation
APT.64 was a management consultancy, which had come to the ‘end of its useful life’ and it was decided that the best way to progress was via a members’ voluntary liquidation, as the company was solvent.
There are many reasons why MVLs are used to liquidate solvent companies. In this case the director and sole shareholder wished to merge his company with his partner’s company and wanted to move back to his home town in the United States , which meant that APT.64 became redundant, hence the decision to proceed with an MVL.
The liquidation proceeded smoothly, with the declaration of solvency revealing assets worth £107,130, most of which was in the form of a director’s loan account (£70,024) and cash at bank (£29,500).
After taking into account, and settling, the company’s liabilities, which included a final claim from HMRC of £5,977, the amount remaining as ordinary shareholders’ funds was £92,007. This amount, which included the return of the Company’s share capital, was distributed to the sole shareholder across 4 separate payments, with the last payment being made on 12th March 2020.
Contact us if you are Considering a Members Voluntary Liquidation
Here at Antony Batty and Company we have successfully completed hundreds of Members Voluntary Liquidations, through our teams in London, Brentwood, Salisbury, Croydon, Bournemouth, Bristol and The Cotswolds. Click here to see more testimonials for MVL’s. In 2019 we were instructed on 49 MVLs. Click here to see our quick guide to MVLs.
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