Elimination of the legal entity
For various reasons, it may be necessary to close the company. In order to liquidate the company, it is necessary to go through the official procedure of liquidation of firms.
The liquidation of firms is the process of terminating the activities of a legal entity, which does not involve the transfer of rights and obligations to another legal entity.
knowledge of the nuances and pitfalls of all stages of liquidation of the company;
Experience with government agencies;
Years of experience in liquidating companies;
to support the turnkey liquidation procedure or a specific stage.
Liquidation of the company. Voluntary or coercive
The liquidation of the enterprise is a procedure in which data on the legal person as a subject of business activity are excluded from the Single State Register, the legal entity is removed from the tax and other state agencies, all rights and obligations of the legal entity are terminated and do not pass to third parties. The liquidation procedure ends when a mark appears in the State Registry on the termination of the subject’s activity.
It is possible to close the company both voluntarily and forcibly. In the first case, the founders themselves decide to terminate the activities of their company. In the second case, the liquidation of the firm takes place on the basis of a court decision, if the subject committed violations of the law or he declared bankrupt.
Liquidation of LLC and other legal entities. Which way to choose?
According to Ukrainian law, there are several ways in which enterprises are liquidated in Ukraine. And depending on the reasons for the termination of the company, you can choose the best way.
It can be a reorganization of the enterprise, the sale of corporate rights. Or, for example, if the company has problems with creditors, there are outstanding debts and there is no possibility to repay them, then most likely, in this case, the most suitable way for the owner will be bankruptcy of legal entities.
Let’s dwell on this procedure in detail.
Bankruptcy of the enterprise as a way of liquidation
It is worth noting that the bankruptcy of the enterprise can occur both on the initiative of the founders or the person authorized by them, and on the application of creditors or regulatory bodies.
In the first case, after the founders have decided to liquidate the enterprise, the created liquidation commission or the authorized person (liquidator) themselves apply to the economic court with the relevant application to declare the enterprise bankrupt.
In the implementation of bankruptcy, a prerequisite is to carry out inspections of supervisory bodies in the enterprise to confirm the status of the bankrupt. If this status is confirmed, the court declares the company bankrupt and on the basis of this the State Register is made a corresponding note on the termination of the legal profession.
Elimination of the legal entity. Key steps
What is the general procedure for eliminating a legal entity, regardless of the paths chosen? Where does it all start?
It all starts with the decision to liquidate the legal entity at the general meeting of the founders. Note that at such a meeting the majority of founders must vote for the decision to liquidate, and at least 60% of the founders must be present. After the decision to terminate the legal entity, a special liquidation commission is established, which from that moment is assigned all responsibilities, including the liquidation procedure.
The next step will be to notify the state registrar of the decision. The notice refers to the drafting and sending of a written application for liquidation to the State Registrar, as well as other documents necessary for the implementation of the procedure. Also, experienced lawyers can tell about all the details, documents and stages during the liquidation of LDS during the consultation.
After providing all the documents in the special media published information about the liquidation of the subject. From that point on, two months are given for creditors and other stakeholders to make their claims for debt repayment. In fact, the settlement with creditors takes place.
Also at this stage, the liquidated enterprise is removed from the tax, pension fund and other bodies. To deregister the regulatory authorities carry out extraordinary checks at the enterprise. As a result of such checks, certificates from the relevant authorities will be provided.
When all previous stages have been successfully completed, the liquidation commission or the authorized person provides the state registrar with documents on the passage of these stages. On the basis of these documents, the Registry is marked on the termination of the activities of the legal entity.
These are the main stages of the closure of the company. However, the procedure contains many nuances and details that complicate it and delay it. Therefore, independent passage of all stages is quite rare. Basically, to implement the liquidation of the firm, the founders turn to the professionals of law firms. They are well acquainted with this procedure, they have a lot of experience working with representatives of state agencies. This greatly speeds up and simplifies the liquidation process.