{"id":336,"date":"2022-01-29T13:18:24","date_gmt":"2022-01-29T13:18:24","guid":{"rendered":"https:\/\/alcint.com\/?page_id=336"},"modified":"2022-05-16T00:25:30","modified_gmt":"2022-05-16T00:25:30","slug":"liquidation-of-companies","status":"publish","type":"page","link":"https:\/\/alcint.com\/?page_id=336&lang=en","title":{"rendered":"liquidation of companies"},"content":{"rendered":"[mhc_section admin_label=”\u0642\u0633\u0645” fullwidth=”on” specialty=”off”][mhc_fullwidth_header admin_label=”\u0639\u0646\u0648\u0627\u0646 \u0628\u0639\u0631\u0636 \u0643\u0627\u0645\u0644” title=”liquidation of companies” subhead_position=”bottom” background_layout=”light” text_orientation=”left” animation=”off” title_bold=”off” custom_paddings=”70px” use_icon=”off” font_list=”mhicons” icon_color=”#b78540″ use_circle=”off” use_circle_bg=”off” circle_color=”#b78540″ use_circle_border=”off” circle_border_color=”#b78540″ use_icon_size=”off” icon_size=”50″] [\/mhc_fullwidth_header][\/mhc_section][mhc_section admin_label=”section”][mhc_row admin_label=”row”][mhc_column type=”4_4″][mhc_text admin_label=”\u0646\u0635” background_layout=”light” text_orientation=”left”]\n
\n
\n
\n
\n
\n
\n
\n

liquidation of companies<\/h2>\n

Liquidation of companies: Liquidation means a set of operations that aim to end the company\u2019s business and settle all its rights and debts, in order to determine the net of its funds to be divided among the partners.<\/p>\n

The most important thing is that the liquidation works be carried out in accordance with what is stipulated in the company\u2019s contract, and if the contract is devoid of the provisions of liquidation, then the provisions contained in the Companies Law must be followed, and the company\u2019s preservation of its personality during liquidation is justified by practical necessity from two aspects, namely:<\/p>\n

Liquidation requires taking some measures, such as ending the company\u2019s business and settling its rights and debts, which requires the company\u2019s legal personality to remain.
\nPreventing the common ownership of the company\u2019s funds among the partners, as commonality gives the creditors of the personal partners the right to crowd out the company\u2019s creditors when executing on its funds.<\/p>\n

liquidator\u2019s rights<\/h2>\n

The liquidator\u2019s powers are determined by the company\u2019s contract or the decision to appoint him, and all his actions and actions are valid and binding on the company as long as they are within the limits of the powers granted to him. The liquidator\u2019s rights may consist of\u2026..:<\/p>\n

Publish the decision issued for his appointment and the restrictions imposed on his authority by the methods of publication prescribed for the amendment of the company\u2019s contract.
\nAn inventory of all the company\u2019s assets and liabilities within three months of starting his work.
\nCompleting the company\u2019s rights and paying its debts.
\nConverting the company\u2019s assets into cash through public auction or practice sale, but he may not sell the company\u2019s money in bulk or offer it as a share in another company unless authorized by him.<\/p>\n

It is not permissible for him to start new business for the company except what is necessary to complete previous business.
\nPreparing a budget, profit and loss account, and a report on liquidation work.
\nAnnouncing the liquidation by the methods of publication prescribed for the amendment of the company\u2019s contract after the approval of the final account by the partners or the general assembly.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n