Liquidation Give notice of a court order staying or sisting proceedings in a CVL or MVL winding up
Giving notice of a company undergoing a Creditors’ Voluntary Liquidation (CVL) or Members’ Voluntary Liquidation (MVL) winding-up process, the phrase “Give notice of a court order staying or sisting proceedings” refers to the requirement of formally informing the court about an order that suspends or halts legal proceedings against the company.
In certain situations, there may be ongoing legal actions or claims against the company that were initiated prior to or during the liquidation process. These proceedings could include lawsuits, claims, or other legal actions brought by creditors, shareholders, or other parties with legal rights against the company.
When a court order is obtained to stay or sist proceedings in the context of a CVL or MVL winding up, it means that the court has temporarily suspended these legal actions against the company. The purpose of this order is to provide a period of protection to allow the liquidation process to proceed smoothly and ensure equitable treatment of creditors.
The company, its liquidator, or its legal representative is responsible for giving formal notice to the court regarding the obtained order. This notice serves as a notification to the court, creditors, and other parties involved in the legal proceedings that the court has issued an order to stay or sist the proceedings against the company.
The notice typically includes details of the court order, such as the date and reference number, and may specify the duration of the stay or sist. It is important to comply with the requirements for giving notice to ensure that the court, relevant parties, and the liquidation process are all appropriately informed about the temporary suspension of the legal proceedings.
By staying or sisting proceedings, the court aims to provide a fair and orderly process for the liquidation of the company’s assets and the distribution of funds to creditors in accordance with the applicable laws and regulations governing CVL or MVL winding up.
These notices are filed with Companies House against the registered company number. All UK company liquidation notices and updates are tracked centrally by Doorda.