Thinking of ceasing your business? Winding Up (or Liquidation) is the term used when dissolving (closing down) a company.
Winding up a company does not always mean the business is not doing well. It can be due to the following reasons as well :
 The shareholders have different directions and objectives for the company.
 The shareholders do not trust each other anymore (disputes).
 The company has achieved its objectives e.g. completion of specific projects, and thus the entity is not needed anymore.
 The shareholders just simply decided to call it a day for the business.
Winding up is a process to bring a company to an end. The assets of the company will be sold, and the money will be used to pay off the company’s debts. The remaining balance (if any) will be distributed among the shareholders.
Stay tuned for more information on ways to wind up a company.
How can Bizboard help?
As a team of professional accountants, Bizboard work and liaise with various professionals such as legal advisors, financial institutions, government authorities and other related professionals to achieve the best possible solution and highest recovery for all stakeholders throughout the insolvency or restructuring process.
Bizboard act as independent adviser to ensure the process is conducted in proper order and in accordance to the relevant laws and regulations. Our highly qualified team have worked throughout various cases in different industries and have an extensive knowledge of business and the impact on stakeholders when a company faces financial distress.
Talk to us to know more.
*Follow us on: Facebook for updates
*Follow us on: Telegram for Updates on Corporate Advisory, Restructuring & Insolvency
*Follow us on: Telegram for updates on Company Secretary
Picture Credit: Freepik.com
#liquidator #Liquidation #receiverandmanager #debtrestructuring #judicialmanagement #CorporateRecovery #CorporateRestructuring #corporaterescue #voluntarywindingup #windingup #companysecretary #dissolutionofcompanies