likvidácia
Likvidácia is a term used in Slovak and Czech to denote the process of winding up or dissolving an organization, or more generally turning assets into cash. In corporate law, likvidácia refers to the formal conclusion of a company's life as a legal entity. The term covers both voluntary wind-up initiated by shareholders and compulsory dissolution ordered by a court or authorities. The process typically involves appointing liquidators who take control of the company, settling liabilities, realizing assets, and distributing any remaining proceeds to shareholders before the entity is removed from the commercial registry.
During likvidácia, the company usually ceases operations and stops taking on new business decisions. Liquidators prepare
Beyond corporate use, likvidácia can also mean the liquidation of assets in a broader sense, such as
See also: liquidation, wind-up, dissolution, bankruptcy, insolvency.