LinkedIn emplea cookies para mejorar la funcionalidad y el rendimiento de nuestro sitio web, así como para ofrecer publicidad relevante. Si continúas navegando por ese sitio web, aceptas el uso de cookies. Consulta nuestras Condiciones de uso y nuestra Política de privacidad para más información.
LinkedIn emplea cookies para mejorar la funcionalidad y el rendimiento de nuestro sitio web, así como para ofrecer publicidad relevante. Si continúas navegando por ese sitio web, aceptas el uso de cookies. Consulta nuestra Política de privacidad y nuestras Condiciones de uso para más información.
Types of Liquidation of a Company - Klaus Garde Nielsen
Types of Liquidation of a
What is Liquidation?
The liquidation Is also known as winding up
process. It is legal term and refers to the
procedures through which the affairs of the
company are wound up by the law.
Types of Liquidation
Compulsory winding up
Voluntary winding up
Supervision on by court
Compulsory Winding Up
Its when occurs when a company is forced by the
law and mainly by the court order to appoint a
liquidator and sell off its assets and distribute the
proceeds to it’s the creditors.
This process is often triggered by the company’s
creditors when they are unpaid and realize that
the company is insolvent.
Voluntary Winding Up
The company may voluntarily wind up itself either
by the passing :where the purpose of which the
company was formed has completed or the time
for which the company has expired.
Advantages of Company
Outstanding debts are written off
Legal action is halted
Leases are cancelled
Staff can claims redundancy pay
Avoid court process
Tips of Company Liquidation
Sell your business liquidation stock early
The stock is not as truth worthy
Find out more about the stock buyers
Try no to get emotionally involved in the process
Liquidation Final Statement of
The main purpose of the liquidator is to collect the
assets of the company & realize them & distribute
the money realized amount the right claimants.
The liquidator is also required to prepare an
account known as the liquidator of the final
statement of the accounts after the affairs of the
company are fully wound up.
Function of Liquidator
Distribute the money to creators in a strict order
Realize the assets of an individuals in bankruptcy.
Klaus Garde Nielsen is a businessman who is
the founder and operates the business and
company of consultancy KGN, currently who lives