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Types of Liquidation of a Company - Klaus Garde Nielsen

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In this PPT, we have discussed about the tips of liquidation and its types which will increase the competition or significant change the market.

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Types of Liquidation of a Company - Klaus Garde Nielsen

  1. 1. Types of Liquidation of a Company
  2. 2. 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.
  3. 3. Types of Liquidation  Compulsory winding up  Voluntary winding up  Supervision on by court
  4. 4. 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.
  5. 5. 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.
  6. 6. Advantages of Company Liquidation  Outstanding debts are written off  Legal action is halted  Leases are cancelled  Staff can claims redundancy pay  Avoid court process
  7. 7. 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
  8. 8. Liquidation Final Statement of Accounts  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.
  9. 9. Function of Liquidator  Secured creditors  Distribute the money to creators in a strict order of priority  Realize the assets of an individuals in bankruptcy.
  10. 10. For Example:  Klaus Garde Nielsen is a businessman who is the founder and operates the business and company of consultancy KGN, currently who lives in Denmark.