Company liquidation is its termination (deleting from the commercial register), for which different actions must be undertaken. The cause for liquidation could be bankruptcy, compulsory dissolution, or voluntary company dissolution based on the resolution of the owners.
The liquidation proceedings include:
- compiling an overview of the company’s economic activity;
- dissolution resolution;
- making the relevant entries into the commercial register (the liquidator’s name and termination);
- informing the creditors;
- compiling the opening balance sheet;
- selling the assets;
- collecting the debts;
- satisfying the claims of creditors;
- if necessary, submitting a bankruptcy petition;
- compiling the final balance sheet;
- creating the asset distribution plan;
- submitting a deletion application to the commercial register.
We provide a complete liquidation proceedings service as well as participating in and helping the client with different stages of liquidation proceedings.