Company Liquidation

Parker Russell UAE is committed to providing top notch company liquidation services, UAE.

The Company liquidation is a long process; it might be compulsory or voluntary.

Immediately after planning to close down your business, the government entities should be notified of the same. This is to avoid any accumulated fines and penalties. It is also advisable to contact a Firm that offers company liquidation services in UAE.

Company Liquidation is the process of concluding its affairs, which normally involves the investigation of past actions, sale of assets, the equitable distribution of the assets of a company amongst its creditors, and thereafter to its shareholders.

Immediately after a company is liquidated it is required to cease doing business and employing people. Upon liquidation, a company’s business license is revoked, its name is removed from the Trade Registry and the entity is considered to have ceased to exist.

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What is a Liquidator?

A liquidator is normally a registered agent or a firm from UAE. Typically a chartered accountancy or audit firm, that is assigned to act on behalf of the company to sell its assets to generate cash and use it to discharge any outstanding liabilities. A liquidator is usually appointed by shareholders via resolution or may be appointed by the courts in the case of compulsory liquidation. Upon appointment, the liquidator will issue an official letter of acceptance at the initial stage.

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