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Publication date: 14.05.2024
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A limited liability company is a form of enterprise where the owners (participants) do not bear personal responsibility for the company's obligations and limit their liability to the amount of contributions to the authorized capital.
This is a very popular form of business because of its flexibility and relative ease of creation and management. They can have one or more founders (participants) and usually have authorized capital, which is divided into a certain number of shares owned by the participants.
Liquidation of a limited liability company (LLC) is the process of terminating the company's activities, which includes the distribution of property among participants, repayment of obligations to creditors and closing of registration records.
Ukraine has its own procedure for the liquidation of LLCs, which is regulated by relevant legislative acts.
The process of liquidation of an LLC begins with the adoption of a decision on liquidation by the founders (participants) of the company:
1. Holding of general meetings.
The founders of the LLC meet at a general meeting and decide on the liquidation of the company. This decision must be made in accordance with the founding documents of the company and the requirements of the current legislation of Ukraine.
2. Documenting the decision.
After the decision on liquidation is made at the general meeting, a corresponding protocol is drawn up. The minutes indicate the date of the meeting, the decision that was made, and other important details.
3. Registration of the liquidation decision.
According to the requirements of the legislation of Ukraine, the decision to liquidate the LLC must be registered with the state registration authorities.For this, relevant documents are submitted to the relevant registration body.
4. Announcement of liquidation.
After registration of the liquidation decision in the state registration authorities, an announcement about the liquidation is made in the relevant state publications.
5. Carrying out the liquidation procedure.
After the announcement of liquidation, the liquidator (or liquidators) conducts the liquidation procedure in accordance with the requirements of the law.
Here is a general description of the LLC liquidation process:
1. Making a decision on liquidation. According to the founding documents of the LLC, the decision on liquidation is made by the general meeting of the participants (founders) of the company.
2. Appointment of liquidator. Usually, a liquidator or a commission of liquidators is appointed at the general meeting, which will be responsible for liquidation.
3. Announcement of liquidation. After the decision on the liquidation of the LLC is made, it is necessary to publish an announcement about it in the official publication and submit information to the registration authorities.
4. Distribution of property. The property of the LLC is distributed among the participants in accordance with their shares in the authorized capital.
5. Repayment of obligations. The liquidator must settle financial obligations to creditors.
6. Submission of documents to registration authorities. After the completion of all liquidation procedures, it is necessary to submit the relevant documents to the relevant registration authorities to close the registration records of the LLC.
Ukrainian legislation also contains requirements for the submission of various reports and documents during the liquidation process.It is recommended to consult a lawyer or an accounting specialist for appropriate preparation and execution of all necessary procedures.
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