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Completion of a Member’s Voluntary Liquidation

John and Yvonne discuss some of the final steps to complete a Member’s Voluntary Liquidation. Join then at the Irish Acocunting & Tax Summit to get more valuable CPD hours.

Member’s Voluntary Liquidation

Transcript of Video – Completion of a Member’s Voluntary Liquidation

This transcript was created using AI and may contain some mistakes.

Final meetings then 28 days notice a general meeting then, you know, obviously consent to short notice. If you want to do that from that point of view, have the meeting hold, a meeting might do written resolutions as far as part of that meeting, if you wanted to, um, give an account of the liquidation. So how it went on now, how were the assets redistribute?

was there distribution in specie, dealing with fees, getting approved from the members, uh, that they approved the fees in relation to it. And then books and records is a statuary obligation of the liquidator to hold on to the books and records for six years, it used to be three under the old act. And so I suppose, where are we going to hold them and are we going to hold them them in the liquidators office?

Are we going to put them into maybe a storage facility for that period? So they come out, uh, that can be taken out if needs be during that process. Um, I suppose, you know, GDPR is obviously important as well that you have stored in the place where there is personal data that is stored appropriately.

Once you’re done, then you going to file the E1 SAP, which the statement of account section 705 and section seven B statement of insolvency practices give you details. And so this was the one I was talking about it details the fees without reimbursement, and also for distribution in specie, separate line item for trading, other then liquidation so if you are doing that, and fees paid to practitioners on a firm,

as we said, in any professional, advice to the liquidator is separately shown, and then form E6 is going to be at confirmation of the final winding up. You have just to say it’s done with, the CRO.