Liquidation of legal entities: important aspects

What is the liquidation of legal entities? This is a procedure, the result of which is the exclusion of a specific organization from the Unified State Register of Legal Entities. Why many entrepreneurs can not independently liquidate the legal entity through which they carried out their business, and turn to lawyers for this? The bottom line is that any kind of liquidation of enterprises is fraught with a lot of nuances, which must be known. Independent study of them is possible, however, it is much easier to turn to professionals for achieving the assigned tasks.

Liquidation of legal entities is a lengthy process. The reasons for the decision to start it may be different. In some cases, they are connected with the presence of excessive debts, in others - business has become irrelevant and so on.

First of all, it should be said that it can be conducted not only voluntarily, but also compulsorily. As the names indicate, in the first case the founders decide to liquidate their organization, in the second case they are obliged to do so. Who can oblige to liquidate a legal entity? Only the court, nobody else has such powers.

Liquidation of legal entities involves the passage of numerous procedures, the collection of documents and so on. It is also important to remember that in its process, the creditors' claims are being satisfied. Due to what are these requirements met? Due to funds from the settlement account of the organization, as well as from the funds that will be received after the sale of the property of the company. People will get what they need to receive (in a certain order). It is a question of satisfying these requirements in turn. What will the founders themselves get? Only that does not leave the creditor. The distribution of the remaining funds between creditors is directly proportional to their shares in the authorized capital.

Liquidation of legal entities, as a rule, is delayed only when the firm has too many debts. They can be not only to creditors, but also to tax, extra-budgetary funds and so on. If there is no way to settle accounts with everyone, then the organization can be declared bankrupt.

Liquidation of legal entities: bankruptcy

Bankruptcy is also called insolvency. Here everything happens quite difficult. The court not only makes a decision to recognize the company as insolvent, but it also appoints the liquidation commission and the liquidator.

The peculiarity of bankruptcy is that after its completion all the property of the enterprise will be sold, and the creditors, who have not got anything, will not be able to make demands on the founders. By the way, personal property liability is borne only in the most exceptional cases.

Reorganization and liquidation of legal entities

Reorganization is often identified with liquidation. What's the Difference? In the fact that it has a place to be a succession. Its forms are as follows:

- merger;

- accession;

- selection;

- separation.

Liquidation of legal entities is a very complicated process.