# Can another company take over a Verra project when the original project owner has been wound up?

Canonical: https://senseible.earth/answers/verra-project-owner-wound-up-new-entity

Yes, a new entity may accede, but only if the project is active and the new entity meets up to eight conditions. They include proof the old owner was liquidated or dissolved, proof it exhausted every way to get consent, and a Project Transfer Deed signed with Verra.

## The rule (section 7.2.1(5))

It covers a project proponent of a registered project that no longer exists, for example through bankruptcy, insolvency or voluntary winding-up.

## The project must be active

The Registration and Issuance Process says the project shall be active on the Verra Registry, and gives as examples of not active: rejected, withdrawn, on hold or late to verify.

## What the new entity must do

Items 1 to 4, 6 and 7 apply to any project. Items 5 and 8 apply only to the project types named.

1. Hold an active Verra Registry account.
2. Provide evidence of the liquidation or dissolution.
3. Show it has exhausted all options to get consent from the old proponent, the account holder or the authorised representative.
4. Demonstrate the right to operate and the right to reductions and removals under the Verified Carbon Standard (VCS).
5. For geological carbon storage (GCS) projects, show the right to operate under the GCS Requirements.
6. Sign a Project Transfer Deed with Verra.
7. Pass compliance screening by Verra.
8. For agriculture, forestry and other land use (AFOLU) projects, sign a new AFOLU Buffer Account Compensation for Reversal Deed.

## Why this matters to a lender or buyer

Our reading: a project whose owner has failed can go quiet and drift into late to verify. That status would then block a rescue, since the project must be active before a new entity can accede. Acting early keeps the option open.

## What Senseible does here

Senseible is not part of Verra's process. Its in-house check is not an accredited third-party verification.

- [Changing the owner of a Verra project](https://senseible.earth/answers/verra-change-of-project-owner-accession-release)
- [Late to verify: the five year rule](https://senseible.earth/answers/verra-late-to-verify-five-years)
- [Proving right to operate](https://senseible.earth/answers/verra-right-to-operate-and-right-to-reductions-proof)
- [Carbon credits](https://senseible.earth/carbon-credits)

Sources: [Verra, VCS Registration and Issuance Process v5.0 (16 December 2025)](https://verra.org/documents/registration-and-issuance-process-v5-0/)

Last reviewed 2026-11-05. Check the current VCS Standard, Registration and Issuance Process and Program Guide on Verra's site before you rely on this; Verra updates them periodically.