Liquidation of your company yay or nay

Information about Liquidation of your company yay or nay

Published on August 11, 2014

Author: priscillal116012



PowerPoint Presentation: Liquidation of your company: yay or nay When a firm or a business incurs more debts than it can pay or ceases making any type of progress or profit, it is time for the directors to determine the destiny of the venture. Going into liquidation is one course of action which they can take and they can even have the ability to get plenty of help in case they decide to go in that direction. Business-lifeline is one such site providing you with skilled knowledge and help in liquidation proceeding. But before going into liquidation the directors must know its pros and cons correctly. Liquidation results in writing off all old debts of the company including its tax liabilities. Liquidation stops the v along with it all obligations of the company also come to a finish. With the end of the venture the directors are free to move onto a new venture which can prove to be more lucrative for them. The procedure for liquidation is completely legal and as is performed by a liquidator appointed by the court there are hardly any opportunities of being cheated.While every coin has two sides there are some negative points to liquidation as well. The major drawback is the directors lose control over their assets which are accustomed to look after the companys liability. In case a manager has taken any personal guarantee, then he can be made personally liable too. Going into liquidation is not an easy option but with the correct help of Company-lifeline this decision can be taken.    

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