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If you owe debts to creditors you are personally responsible for those debts.You can find out more in our document on problem debt.When the company closes it may need a "death certificate" to avoid further legal obligations.It is not affected by the death, insanity, or insolvency of an individual member.If you are a sole trader the process is quite straightforward.

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If you use a business name you must inform the Companies Registration Office that you have ceased trading within 3 months. You can cancel your tax and VAT registration with Revenue by filling out a Tax Registration Cancellation Notification (form TRCN1)(pdf).He said :“The liquidity outlook changed quickly on the morning of the 29th September when it became clear that without assistance Anglo would not be able to open for business the following morning.” The inquiry was told the Bank was warned in discussions with the ECB another Lehmans needed to be avoided at all costs.He said: “As a result of contacts with the ECB, it was the view at the time that an overall European initiative of which Ireland might be part was remote and that any decisions in relation to Irish banks would fall to be made by the Irish authorities.The reasons for seeking a members voluntary liquidation are varied but are common where a company has run its course or where the directors wish to retire.The advantages of choosing a members voluntary liquidation are the significant tax savings that can be achieved.

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