Do all liabilities have to be settled before placing the company into Members Voluntary Liquidation?
No. The duty of the liquidator, once appointed, is to realise the assets of the company and settle all liabilities in accordance with insolvency legislation. It is not uncommon for companies to be placed into a Members Voluntary Liquidation with one or two liabilities outstanding. This will most likely be an outstanding tax liability that cannot be settled until your accountant has brought the tax returns up to date.