Law Firm “Dominanta” will be useful for you not only when registering a business, but also when terminating it.
Everything has its beginning and its logical ending. Sooner or later, some entrepreneurs are faced with the problem of stopping the activities of their companies (LLC, PE, JSC) or the need for reorganization. There are options when liquidation of a company is carried out in connection with bankruptcy, or it begins at the decision of the owner. The termination of the activities of a sole proprietor (BE / SP) occurs most often.
In order to consolidate several production capacities in one enterprise, it is necessary to undergo a reorganization procedure; the same reorganization procedure is conducted by business separation, when it is necessary to separate one of the business lines. The processes of liquidation and reorganization have much in common and are carried out through the procedure for the termination of the activities of the company with the only difference that, when reorganizing, the rights and obligations of the terminated company are transferred to a legal successor.
There are certain peculiarities in the procedure for the termination of the activities of a company. Besides the fact that you need to determine the most appropriate way to close your legal entity, it is also worth considering the timeframe that will be required to implement the specified procedure. It is important to go through each stage of termination (liquidation, reorganization) in an exact sequence and following the established deadlines.
Termination of a company, as a rule, is a time consuming and diligent process. The procedure for the liquidation of a company or its reorganization includes a number of stages, each of which is important. Having missed something at one stage, you can delay the passage of the next one or make it impossible. That’s exactly why the termination of a company is a complex and confusing process for most people. In our practice, we often encountered problematic issues when closing both a BE and an LLC (TOV).
The first step towards the termination of your business is the approval of an appropriate decision by the owners where the plan of liquidation / reorganization is determined, and the liquidation commission is appointed. This is followed by the publication of information about the termination of your LLC firm (TOV) and the notification of creditors. The inventory count of the property belonging to the company is necessarily carried out, and the accounting department must strike a zero balance. All documents are gradually collected to terminate the work of the company in all government agencies. At this stage, you will experience an audit by the tax authority, and a comparative check in the pension fund.
Lawyers of Law Firm “Dominanta” have extensive experience in providing this type of legal services since they conducted more than a hundred liquidations and reorganizations through a variety of means. After listening to your wishes and having read the documentation, we will prepare an action plan for the completion of your business or its reorganization in the most appropriate and fastest way, and we will also help reduce the cost of such procedures.
In general, the termination procedure is as follows:
decision for liquidation/reorganization;
initial registration of the termination procedure;
notice to creditors;
passing audits in state bodies;
work of accountants on striking a zero balance;
transfer of documents to the archive;
final registration of the termination.
When reorganizing, you additionally need to:
draw up and sign a distribution or transfer act;
register changes in the constituent documents of the continuing company.
There are liquidation and bankruptcy lawyers in the staff of Law Firm “Dominanta”, who enable our company to provide legal services in such procedures as:
- liquidation by the decision of the company owners;
- liquidation pursuant to the delivery of a judgment;
- liquidation by the decision of a competent authority;
- express liquidation;
- reorganization by way of merger;
- reorganization by way of consolidation;
- reorganization by way of splitting;
- reorganization by way of reconstruction;
Turning to our company, you will devote a minimum of time and attention to such a complex and rather lengthy procedure as the liquidation or reorganization of an LLC (TOV), a JSC, a BE (FOP), or an SP.