Voluntary Insolvency A voluntary insolvency takes place when a creditor petitions to a court in order to wind up the company. Companydirectors can also petition to courts, though this must be done by a group of directors and not just one director.
Voluntary Insolvency The voluntary insolvency process means that the company-directors can choose, along with approval from shareholders, to liquidate the company. When a court presents the company with a winding up order, the company has no choice but to liquidate.
Voluntary Insolvency More information on