What is a members voluntary liquidation?
Could you please explain what a members voluntary liquidation entails? Is it a process initiated by the company's members or shareholders, and what are the main reasons for pursuing such an action? Additionally, what are the key steps involved in the process, and what are the implications for the company's assets, liabilities, and stakeholders? Furthermore, is it a viable option for companies facing financial difficulties, and how does it differ from other liquidation processes?