Business Definition for: Members' Voluntary Liquidation

• in the United Kingdom, a special resolution passed by the members of a solvent company for the winding-up of the organization. Prior to the resolution the directors of the company must make a declaration of solvency. Should the appointed liquidator have grounds for believing that the company is not solvent, the winding-up will be treated as compulsory liquidation.
• See also Voluntary Liquidation