Voluntary liquidation

(redirected from Voluntary Winding Up)
Also found in: Dictionary, Legal.
Related to Voluntary Winding Up: compulsory winding up

Voluntary liquidation

Liquidation proceedings that are supported by a company's shareholders.

Voluntary Liquidation

The decision by shareholders in a publicly-traded company to cease operations, sell all assets, and use the proceeds to repay its creditors as far as possible. A voluntary liquidation differs from a bankruptcy, where the company files with a court without taking a vote of shareholders.
References in periodicals archive ?
The Company has been informed that following the result of the issue of new ordinary shares to shareholders in Anglo & Overseas Plc in connection with the scheme of reconstruction and voluntary winding up of Anglo & Overseas Plc that Mrs Tulloch, a Connected Person of Mr Teddy Tulloch, as defined by the Disclosure and Transparency Rules, now has an interest in 18,573 ordinary shares of the Company.
In the Matter of GERARD BRADY LIMITED (In Voluntary Liquidation) AND IN THE MATTER OF THE COMPANIES ACT 1963 - 2013 At an Extraordinary General meeting of the above named company, duly convened and held at the 21 Belvedere Place, Dublin 1 at 10am on 11 November 2014 the following special resolution was duly passed: "That the company be wound up voluntarily by way of a Members Voluntary Winding up and that Niall Byrne be and is hereby appointed Liquidator of the company for the purpose of such Winding Up and that the Liquidator be and is hereby authorised, in accordance with the Memorandum and Articles of Association of the company, to distribute the whole part of the assets of the company amongst the members in specie.
Full browser ?