Company Liquidation Services
The process of company liquidation involves conversion of an enterprise’s resources into cash, paid to different heads which used to contribute in the upkeep of the company. For instance, a company could be liquidated to pay the debts to the creditors; the lending agencies or a bank from which the company sought loans once.
It is the last resort which lenders opt for, as a company which is in optimum financial health is not subjected to liquidation process. But, if a company isn’t offering any suitable progress and the debtors have been unable to pay the debt, then creditors choose to take action against the company for the sake of their money.
In the process, the assets of the company; land, machinery, raw material, products, and other sell-able items are auctioned or sold directly to a potential buyer. The cash, which is obtained from the selling of all the things, is then distributed among the lenders.
- Preparation and submission of liquidation report through independent and approved auditors.
- Guidelines on liquidation procedures
- Cancellation process.