Liquidation
What is liquidation?
The dissolution of a company leads to its liquidation. Liquidation is carried out by one or more liquidators, usually by the managing directors or board members of the dissolved GmbH or AG, as well as by all partners in a general partnership or a limited partnership. In the latter case, the limited partners therefore also assume the role of ex officio liquidators, even though they are excluded from representing the trading company. In particular, the liquidators must wind up the day-to-day business, collect receivables, realise the assets and satisfy the creditors. A liquidation balance sheet must be drawn up at the start and at the end of the liquidation. Once the liquidation has been completed, the liquidators must apply for the company to be struck off the commercial register.
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