likvidatsiya
Likvidatsiya is a Russian term that translates to "liquidation" in English. It refers to the process of winding up a company or organization. This typically involves selling off all assets, paying off debts and liabilities, and distributing any remaining funds to shareholders or members. Liquidation can be voluntary, initiated by the company itself, or involuntary, often ordered by a court due to insolvency or other legal reasons. The primary goal of liquidation is to cease the entity's operations and settle its financial obligations.
There are two main types of liquidation: voluntary and compulsory. Voluntary liquidation occurs when the shareholders
The liquidation process involves several key steps. First, a liquidator is appointed to oversee the winding-up.