Liquidating and winding up a company

The liquidation of a company represents a legal procedure leading to the cancellation and termination of the company when the company is not over-indebted.

If the company is over-indebted (assets are lower than liabilities) it is necessary to submit an insolvency petition and initiate insolvency proceedings.

The liquidation of the company is primarily used in situations where a company already appears unnecessary as a business and it is desirable to have it removed from the Commercial Register.

Types of company liquidation

  • Forced liquidation is an involuntary liquidation ordered by the court in cases determined by law
  • Voluntary liquidation is based on the decision of shareholders (owners) of the company - this is the more common case of cancellation of the company

The main purpose of liquidating a company is resolution and settlement of property relations that will result in the cancellation of the company and its deletion from the Commercial Register.

By entering into the liquidation process, the company fully restricts the active business activity and all operations are directed only to the settlement of the assets and liabilities of the liquidated company and its subsequent dissolution and cancellation.

Profispoleč will guide you through the difficult process of liquidation of the company and will carry out the deletion of your company from the Company Register!

Please read below what activities we will perform within the liquidation of your company.

Within the liquidation of the company we will mainly provide

  • The decision of the General Meeting on the company‘s entry into liquidation in the form of a notarial deed.
  • Appointment of a liquidator and his registration in the Commercial Registry.
  • Determining the remuneration of the liquidator.
  • Drafting of both notices of company‘s entry into liquidation and their publication in the Commercial Bulletin.
  • Completing the preliminary liquidation balance sheet.
  • Compilation of an inventory of assets of the company in liquidation
  • Settlement of property relations, debts and receivables of the company in liquidation.
  • Completing the final liquidation balance sheet.
  • Drafting of the proposal for the distribution of the liquidation balance.
  • Drawing up the list of shareholders whom the share of liquidation balance has been paid.
  • Archiving of the company‘s documents in the state archive.
  • Proposal for deletion of the company from the Commercial Register.

Do not worry about the complicated and lengthy process and let the professionals carry out the company‘s liquidation for you!

The whole process of liquidation of the company takes, according to the individual demands of the individual case, from 6 to 24 months.

Do you need to close a company or a corporation? Closing a business with liquidators can be easy if you choose to dissolve your company with Profispoleč

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