What is business liquidation

[sadiksojib35]

When an entrepreneur decides to close a business, the reasons for this can be different: both internal and external. Starting from the unwillingness to engage in a specific type of activity and ending with financial problems.

There are several methods of liquidating a business, each of lebanon whatsapp phone number which has its own consequences and risks. Some of them are offered by "gray" lawyers, but in practice they turn out to be ineffective or even illegal.

The head of the accounting and legal company "Samitov Consulting" Marat Samitov told how to liquidate a business, and also demonstrated schemes that should not be used if you do not want to violate the norms of current legislation.

Subscribe to RB.RU in Telegram
Content:

What is the difference between liquidation and reorganization
How to liquidate an individual entrepreneur
Why Alternative Methods of Business Liquidation Are Dangerous


What is business liquidation
Liquidation of a legal entity is the process of terminating the company's activities. Upon completion of this procedure, the company loses its legal status and ceases to exist. Liquidation can occur either at the initiative of the owners or as a result of a decision by authorized bodies, such as a court or tax inspectorate.

During the liquidation process, the founders settle all financial and legal obligations, pay off creditors and distribute the remaining assets among the owners.

After all procedures are completed, the legal entity is considered liquidated, and its name is excluded from the register. In more "scientific" language, liquidation is not only a decision to close a business, but also an important stage in the legal regulation of commercial activity.

RB.RU recommends the best providers of digital solutions for your business - follow the link