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Company Liquidation Services
Liquidation is the process by which a company (or part of a company) is brought to an end, and the assets and property of the company redistributed.
A company may be closed voluntarily by its owners or by order of the Court. Companies can be liquidated either by "striking off" or "winding up".
Striking Off
Striking off refers to the company being struck off from the register of the Company Registrar. This is, however, more suitable for small or dormant companies that are able to meet the specific requirements.
When is Striking Off Suitable?
- Company has ceased operations
- All liabilities have been settled
- Company meets the regulatory requirements
- A simpler, less formal process is preferred
Winding Up
Winding up refers to a more formal company liquidation procedure which involves the orderly winding-up of the company affairs, the appointment of a liquidator to manage the process of realizing the company assets, ceasing or sale of its operations, payments of its debts and distribution of surplus assets among its members.
The Winding Up Process Includes:
- Appointment of a licensed liquidator
- Realization of company assets
- Settlement of debts and liabilities
- Distribution of surplus to shareholders
- Compliance with legal requirements
- Final dissolution of the company
Expert Guidance
Our licensed and experienced liquidators will assess your situation and recommend the best course of action while assisting you throughout the liquidation process.