Voluntary Strike-Off
/ˈvɒlənˌtɛri ˈstraɪk ɒf/
Definitions
- (n.) A formal procedure by which a company applies to the registrar to be removed from the official register, effectively dissolving the company voluntarily.
The directors initiated a voluntary strike-off to close the company without going through liquidation.
Forms
- voluntary strike-off
Related terms
See also
Commentary
Used primarily in corporate law to allow companies to dissolve without formal insolvency proceedings; care must be taken to ensure all liabilities are settled before applying.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.