guidance

Voluntary Liquidation Guidance 2023

Issuing bodyADGM
CountryUAE
Date issued2023
Voluntary LiquidationMembers’ Voluntary LiquidationCreditors’ Voluntary Liquidation

This ADGM guidance document outlines the procedures for voluntary liquidation of companies within the ADGM, covering both Members' Voluntary Liquidation (MVL) and Creditors' Voluntary Liquidation (CVL). It details the conditions for each type of liquidation, the required declarations, and the steps involved in commencing and managing the liquidation process, including notices and potential conversion between MVL and CVL.

Key requirements
  • Declaration of solvency is required for Members’ Voluntary Liquidation (MVL).
  • Notice of a members’ voluntary liquidation must be issued.
  • Companies must understand the implications on their status once liquidation commences.
Applies to: Companies registered within the Abu Dhabi Global Market (ADGM)
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