végelszámolását

Végelszámolását refers to the liquidation process of a company in Hungary. It is a legal procedure initiated when a company ceases to operate and its assets are sold to settle outstanding debts and distribute any remaining funds to shareholders. This process is governed by Hungarian company law and is overseen by a liquidator appointed to manage the dissolution.

The liquidation typically begins with a resolution by the company's shareholders or a court order. The liquidator's primary responsibilities include identifying and securing all company assets, settling all debts and liabilities to creditors, and preparing a final financial report. If the company's assets are insufficient to cover its debts, the company may be declared insolvent, and the liquidation will proceed according to insolvency laws.

Once all debts are settled, and any remaining assets are distributed, the liquidator will file the necessary documents with the company registry to formally dissolve the company. This marks the end of the company's legal existence. Végelszámolását is a formal and structured process designed to ensure an orderly wind-down of business operations and the fair treatment of creditors and shareholders.