Summary of the steps to commence an MVL
3.10 The following is a summary of the steps to commence an MVL.
 |
Make a Declaration of Solvency | Signed by the Directors (or a majority of them) |
 |
Call a general meeting | Within 5 weeks of the Declaration of Solvency and the members must pass a resolution for winding up |
 |
Appoint a liquidator | At the general meeting. The liquidator must be an ADGM licensed insolvency practitioner |
 |
Advertise the resolution in ADGM | The Company must publish an advertisement in an English and Arabic language newspaper with a wide circulation, including the ADGM and Abu Dhabi, UAE |