About liquidating

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There are numerous advantages and disadvantages to voluntary liquidation.In this guide, we’ll explain the voluntary liquidation process to help you understand if it’s a suitable solution for your company.Is your company no insolvent and no longer commercially viable?Markets change a great deal over time, and although your company may have been highly profitable in the past, its current cash flow and assets may mean it’s no longer viable.If you believe your company does not have a viable future, the best way to bring it to an end could be through voluntary liquidation.

When starting the liquidation process, stakeholders name the liquidator.Corresponding note is then put into Commercial register.Stakeholders can turn to the court to assign a liquidator.The duration of the liquidating procedure is 7 months.During the liquidation procedure order stated by the legislator must be followed: initial balance of the liquidation must be composed, creditors must be informed, assets must be sold, receivable demands must be exacted etc.

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