Can I dissolve my company without a director's approval?

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I’m a shareholder at a limited company in Cardiff. All of the shareholders and one of the directors of this company are in agreement that the company needs to be dissolved as quickly as possible. One of our directors, however, is currently on a one-month holiday and we have been unable to reach him. Can we legally shut things down without the approval of one of our directors? I’m sure he’ll agree, but we don’t have time to get his written consent.

Answers

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Unless your company is insolvent (unable to pay its debts) you cannot dissolve it without the approval of a majority of the directors. In the case of having two directors, both of them must agree to the closure and sign the relevant form.

If the company is insolvent, you can implement a creditors’ voluntary liquidation without the consent of the directors - the members have the power to close the company if a majority of them agree.

a year ago
 

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