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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