likvidálási

Likvidálási is a Hungarian term that translates to liquidation or winding up in English. It refers to the process of closing down a company or other legal entity, typically when it is insolvent or no longer operational. This involves selling off all assets, paying off creditors to the extent possible, and distributing any remaining funds to shareholders or owners. The goal of liquidation is to formally terminate the legal existence of the entity.

There are two main types of liquidation: voluntary and compulsory. Voluntary liquidation occurs when the shareholders or members of the company decide to close it down. This usually happens when a company has ceased trading or wishes to restructure. Compulsory liquidation, on the other hand, is initiated by a court, often at the request of creditors who are owed money by the company. In such cases, a liquidator is appointed by the court to manage the process.

The role of the liquidator is crucial. They are responsible for gathering all the company's assets, assessing its debts, and managing the sale of property and other holdings. The proceeds from the sale are then used to settle outstanding liabilities, starting with secured creditors, then preferential creditors, and finally unsecured creditors. Any surplus is then distributed according to the company's articles of association or relevant laws. Once the liquidation is complete and all affairs have been settled, the company is formally dissolved and removed from the company register.