Just presume, your company is badly debt-ridden, and you need to liquidate all the resources into cash. RBS auditing has the best Liquidation Services in Dubai. There are several reasons why a company needs to get liquidated to reimburse the debt to the bank from which the company needed the loan, creditors, or lending companies. The process of liquidation includes the selling of all the company’s possessed items, such as products, land, raw materials, machinery, and another commodity that can be sold out or auctioned whereas some items are purchased by the buyers.
Company liquidation is of two types-
Voluntary Liquidation/ compulsory liquidation
Liquidation by court
Voluntary liquidation is the shutting down of companies by shareholders or creditors of the company who passes the legal resolution. During the meetings of shareholders, an official liquidator is appointed, who is responsible for the winding up of the company, and such liquidation is also called compulsory liquidation.
Employees are considered the primary creditors. The pending dues of the employees are cleared.
Sometimes the company files a petition for liquidation to the court by itself, when it gets failed financially, or is unable to pay off its pending dues.
According to the UAE Freezone Company Liquidation service, a company in a good state will not get subjected to the liquidation process. Whereas, if a company cannot show proper growth and is not capable of paying off debts, then only the creditors can take action against the company.
Perks of Liquidation services:
- Liquidation happens to the company, not the people of the company.
- Creditors are not allowed to chase directors of the company after the company is liquidated.
- Once the company is liquidated all the legal disputes against the company come to an end.
- The liquidation management sanctioned the chosen liquidator.
If you are interested in our services for liquidation, please feel free to contact our customer care for further details regarding these services. In addition to these programs, our company also offers UAE Freezone Company Formation. RBS is one of the top leading service providers in terms of tax and advisory, accounting, audit services. Our company possesses the personality of a small firm but has the caliber of big firms. Our team has a long-term experience in accounting, taxation, business advisory services, auditing, the management consultancy. Our team consists of skilled individuals who are smart enough to manage the risk of the clients and more.
