Likvideeriminelõpetamine

Likvideeriminelõpetamine refers to the process of closing down a company through liquidation. This legal procedure involves the orderly sale of a company's assets, the settlement of its debts, and the distribution of any remaining funds to its shareholders. The primary goal of liquidation is to terminate the company's existence as a legal entity.

There are two main types of liquidation: voluntary and compulsory. Voluntary liquidation is initiated by the company's members or shareholders, typically when the company is solvent but no longer wishes to continue its operations. Compulsory liquidation, on the other hand, is initiated by a court order, usually at the request of creditors who are owed money by the company, or if the company is unable to pay its debts.

During the liquidation process, a liquidator is appointed to oversee the proceedings. The liquidator's responsibilities include realizing the company's assets, which can involve selling off property, equipment, and intellectual property. They also manage the payment of all outstanding liabilities, including those owed to creditors, employees, and tax authorities. Any surplus funds after all debts are settled are then distributed to the shareholders according to their ownership stake. Once the liquidation is complete and all affairs are settled, the company is formally dissolved and removed from the company register. This process ensures that a company's assets are managed responsibly and its obligations are met before its legal termination.