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What is a Simplified Creditors’ Voluntary Liquidation?

A Simplified Creditors’ Voluntary Liquidation (“SCVL”) is a liquidation process that has been streamlined to cater for winding up companies with less than $1,000,000.00 in liabilities. Along with Small Business Restructuring (“SBR”), the SCVL process was introduced on 1 January 2021.

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