Liquidation is the process of winding up a company and to put it to an end by selling off its all assets through a liquidator. Liquidation in UAE (United Arab Emirates) follows strict procedures. Voluntary or involuntary, when a company has taken the painful decision of liquidating its assets, they require the help of a well-qualified and experienced liquidator in UAE.
Member voluntary liquidation: In such cases, the company is not necessarily in the state of insolvency. The member or shareholder can voluntary liquidate its share in the company.
Compulsory liquidation: It mostly occurs when a company fails to pay its liabilities and debts, or in exact terms when a company is bank corrupted. As the name suggests such liquidations are mostly against the will of directors and creditors and put the compulsion of liquidation by legal help.
Unwanted asset liquidation: It involves the liquidation of unwanted assets like store or branch of the company.
Role of liquidators
These are the licensed Insolvency Practitioners. They calculate the value for all assets that belong to the company and distribute the received cash among creditors.
How to find a right Liquidator in UAE
Liquidation of the company is a huge responsibility and involves various legal procedures. And while hiring a liquidator one should keep a few things in mind:
Licensed and qualified: In the times of crisis Hombre Nike Hyperadapt 1.0 JP Casual Negras Rojas España , a liquidator can get the right value of the assets and can save one from various issues. So it important to deal with a licensed and qualified liquidator who is knowledgeable of legal procedures.
Experienced: An experienced liquidator can guide you better on the possibilities open for your company. Liquidation requires long paperwork so your hired liquidator must be credible and should provide easy drafting, liquidation report and must complete other formalities lies under the law.
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RAMALLAH, Feb. 23 (Xinhua) -- Eight Palestinians were wounded and 26 others arrested by Israeli security forces on Tuesday during a wide military incursion into the West Bank, Palestinians sources said.
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