Company Liquidation

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Company liquidation in UAE is an insolvency operation in which a company is wound up and all of its properties are dissolved. The proceeds are used to repay debts, cover expenses, and distribute any residual excess to the company’s owners. Compulsory liquidation and voluntary liquidation are the two main types of insolvent company liquidations.

Compulsory Liquidation

If a company’s liabilities aren’t paid properly, creditors can ask the courts to dissolve it so that they can get their money. In order to pay off existing debts, the courts may compel a firm to liquidate and dispose its assets. In the instance of compulsory liquidation, a liquidator may be chosen by shareholders by resolution or by the courts.

Voluntary Liquidation

The winding up of a firm that has been accepted by shareholders is known as voluntary liquidation. When a firm’s owner determines that the company has no point in keep functioning, such a choice will be made.

Accobis is one of Dubai’s and the UAE’s major business consulting firms. Considering the expertise in finishing the process of company liquidation in UAE, our specialists will make your job easier.

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