Scotland: members’ voluntary liquidation

Copyright © 2025 LexisNexis
Produced in partnership with Tim Cooper of Addleshaw Goddard and Eileen Maclean of Insolvency Support Services
Practice notes
Scottish Law

Scotland: members’ voluntary liquidation

Copyright © 2025 LexisNexis

Produced in partnership with Tim Cooper of Addleshaw Goddard and Eileen Maclean of Insolvency Support Services

Practice notes
Scottish Law
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The Insolvency (Scotland) (Receivership and Winding up) Rules 2018

The Insolvency (Scotland) (Receivership and Winding up) Rules 2018 (ISRWR 2018), SSI 2018/347 were laid before the Scottish Parliament on 14 November 2018 and came into force on 6 April 2019. Consequently, the ISRWR 2018, SSI 2018/347 affected the process for Members’ Voluntary liquidations (MVLs) in Scotland. Subsequently, the Insolvency (Scotland) (Receivership and Winding Up) (Amendment) Rules 2021 (ISRWAR 2021), SI 2021/1025 were laid before the Scottish Parliament on 9 September 2021 and came into force on 1 October 2021. These latter Regulations are amending statute to the original Rules.

This Practice Note therefore concerns the applicable law, procedure and practice relating to Scottish MVLs in force from 6 April 2019 onwards as set out in Part 3 of the 2018 Rules and Part 2 of the 2021 Rules.

What is an MVL?

A members' voluntary liquidation (MVL) is a process by which the members of the company pass a special resolution in order to end its business

Tim Cooper
Tim Cooper

Addleshaw Goddard

Tim is a Business Support & Restructuring partner at Addleshaw Goddard, based in Edinburgh, working in all aspects of corporate restructuring, asset recovery and insolvency. He has worked throughout his career as a corporate restructuring and insolvency lawyer, and has over 20 years career experience from the North of England and Scotland as a specialist in this area.

Tim has worked on many high profile restructurings and insolvencies, including leading the team advising the liquidators of The Scottish Coal Company, administrators of Hawick Knitwear and of Ferguson Shipbuilders. Other career highlights range from handling Premier League and Championship football club restructurings, retail cases such as Dolcis Shoes, Whittard of Chelsea and Adams Childrenswear, manufacturing such as Silentnight Group, Behar Carpets, insurance mediation businesses such as FirstCity Group, and many others. Tim is also the Chair of R3 in Scotland, R3 Council Member for Scotland and sits on the R3 Scottish Technical Committee.

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Eileen Maclean
Eileen Maclean

Insolvency Support Services

Eileen Maclean is a licensed insolvency practitioner with over 30 years' experience of all aspects of personal and corporate insolvency in Scotland. Nine of those years were spent with EY in Edinburgh, where she passed her Joint Insolvency Exam, and commenced her MBA.

Spotting an opportunity in the market, Eileen has been providing bespoke support services to the insolvency profession since 1999, including outsourcing and technical support, compliance reviews and extensive training programmes. She is recognised as the foremost trainer of Scottish insolvency throughout the UK, and for her thought leadership across the profession.

Eileen specialises in complex issues and dispute resolution, where she combines detailed knowledge of the law with a pragmatic approach to get proven results for clients. She excels in compliance and practical advice and in the words of a peer, 'what she doesn't know about insolvency isn't worth knowing'.

Eileen represented Scotland on R3's National Council for six years. She continues to provide valuable input into government consultations and SIPs as an active member of the R3 Scottish Technical Committee. She represents the IPA on the PTD Standing Committee, R3 on the Bankruptcy Stakeholder Group and is a member of the AiB's Policy and Cases Committee.

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Voluntary liquidation definition
What does Voluntary liquidation mean?

liquidation not involving the court, either members voluntary liquidation (MVL) for solvent companies, or creditors voluntary liquidation (CVL) for insolvent companies.

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