Liquidation
Liquidation is the process of bringing a business to an end and distributing its assets to claimants. It is an event that usually occurs when a company is insolvent, meaning it cannot pay its obligations when they are due. As company operations end, the remaining assets are used to pay creditors and shareholders, based on the priority of their claims.
Numerica’s team of liquidators can assist in all stages of the company liquidation process. We regularly act as liquidators for many companies looking to close their business. Our liquidators are initiating and finalizing liquidations in a timely and appropriate manner.
We provide services for two types of company liquidation:
Voluntary Company Liquidation
If the business does not have enough money to conduct a business or meet the expenses such as bills and salaries and the company is constantly at loss. In that case, companies will go for voluntary company liquidation.
Mandatory Company Liquidation
If a company violates the rules and regulations of the authorities or commits a crime such as fraud or any other serious offense. The government will immediately close the company and in this case, mandatory company liquidation is required as per the court order.
