MVL Online

[Maslins]

Lots of Contractor UKers have used MVL Online to liquidate their companies, which I'm hugely grateful for. It's a business I (Chris Maslin) owned jointly with licensed insolvency practitioner David Thorniley.

David's older than me, and has been discussing retirement for a while. I'm not an insolvency practitioner (IP), hence couldn't run it without another IP involved. So we've been looking at options to secure the business's future.

As of Monday 1 June, the business has legally been sold to liquidator firm BTG. The underlying brand/business "MVL Online" will continue largely as is. The new structure will still involve the same client facing team (myself and some of the staff at Maslins), but a different IP legally taking on the appointments, and some other tweaks behind the scenes. The client experience should remain the same.

[cojak]

Thank you Chris. I hope your new venture is as successful as your old one (I'm sure it will be!).

[jamesbrown]

Good of you to update us, thanks

As an aside, what is your value limit on MVLs? I vaguely recall it used to be on the lower side for insurance cost reasons, but perhaps that changes with the takeover(?)

Good luck with the new venture!

[Maslins]

Cheers for the positive responses (I feared a few more "keyboard warrior" ones! )

Personally I'm expecting to continue to be involved in MVL Online at least short-medium term, hopefully long term. Just going forwards it's a small part of a reasonably big group, rather than a stand-alone business. So whilst I don't call the shots anymore, I'm hopeful it'll continue largely as is, and also open up opportunities.

Re MVLO's upper limit, it was £1m. TBH that was high enough it covered 99+% of typical contractor situations. There'll be lots of little decisions still TBC (and not my decisions to make!), but I think for the time being we'll stick with that £1m limit. Of course the wider BTG group can take on bigger/more complex liquidations, though the fee structure would be different, as would the team dealing with it.

[northernladuk]

Thanks for the update. Hope it's a good move and onwards and upwards for you. Many thanks for dealing with my case which went without a hitch so appreciate the help.

Hope we will see you around these parts.

[Dorkeaux]

Good of you to post your news here.
I am also a very recent and happy client.
You and your team did a great job for me, Chris.

I particularly appreciated the clear comms and advice about what makes a simple liquidation (the kind you handle) and a complex (hellish) one.