What Happens in a Creditors’ Voluntary Liquidation With Bounce Back Loan Debt?
The Creditors Voluntary Liquidation (CVL) process offers struggling business owners a way to formally close down an insolvent company. But what happens when the company has an outstanding Bounce Back Loan (BBL)? This question is increasingly common for directors facing financial challenges after taking advantage of pandemic-era government support. Understanding how BBLs are treated in a CVL is essential for anyone considering liquidation.
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