felszámított

Felszámított is a Hungarian legal term that translates to "liquidated" or "in liquidation." It refers to a company or entity that has entered into the process of voluntary or compulsory dissolution. This process involves the termination of its legal existence and the sale of its assets to pay off its debts.

When a company is felszámított, its operations typically cease. A liquidator is appointed to manage the winding-up process. The liquidator's primary responsibilities include gathering all company assets, settling outstanding liabilities with creditors, and distributing any remaining funds to the owners or shareholders. This process is governed by specific laws and regulations within Hungary.

The reasons for a company entering liquidation can vary. It might be due to insolvency, where the company can no longer meet its financial obligations. Alternatively, it could be a voluntary decision by the owners to close down the business for strategic reasons, such as retirement or merging with another entity.

The felszámított status signifies that the company is no longer an active operational entity. Its business activities have been discontinued, and the focus shifts entirely to the orderly termination of its affairs and the distribution of its remaining value. The conclusion of the liquidation process results in the company's complete dissolution and removal from the company register.