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How to liquidate an LLC: practical advice and services of a lawyer

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Andrew
Lawyer
Ukraine / Kyiv

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Publication date: 28.05.2024

The process of liquidating an LLC (limited liability company) can be complex and lengthy, especially if there are certain legal issues or problems with government authorities. In this article, we will look at the main aspects of liquidating an LLC and how the professional help of a lawyer can simplify this process.

What is liquidation of comrades Liquidation LLC express liquidation company   

The liquidation of an LLC is the process of terminating the activity of a limited liability company, which ends with the exclusion of the LLC from the Unified State Register of Legal Entities. Liquidation of an LLC can be voluntary or compulsory.

Voluntary liquidation of LLC 

Voluntary liquidation of the LLC takes place by decision of the company members. It can be caused by various reasons, such as:

completion of the term of activity specified in the statute,

achieving the goals for which the LLC was created,

reluctance to continue business due to financial difficulties or changing market conditions.

Forcible liquidation of LLC 

Compulsory liquidation of an LLC can be initiated by a court decision, for example, in the event of bankruptcy or if the company does not comply with legal requirements.

Stages of LLC liquidation 

The process of liquidation of an LLC consists of several main stages:

Decision on liquidation 

The first stage is the decision to liquidate the LLC. At the general meeting, the members of the company decide on the termination of activity and appoint a liquidator or a liquidation commission.

Notifications of government bodies 

After the decision is made, it is necessary to notify the state authorities about the start of liquidation. This includes submitting the appropriate application to the tax inspectorate and the Unified State Register.

Carrying out an inventory and assessment of property 

At this stage, an inventory and assessment of the property of the LLC is carried out. This allows you to determine the assets of the company that will be used to repay debts to creditors. 

Settlement with creditors 

The next step is settlement with creditors. All debts and obligations to creditors must be repaid before the final liquidation of the LLC.

Compilation of liquidation balance sheet 

After settlements with creditors, a liquidation balance is drawn up, which reflects the remaining assets of the company.

Exclusion from registry 

The last stage is the exclusion of the LLC from the Unified State Register. After that, the company officially ceases to exist.

Types of LLC liquidation 

Express Liquidation LLC 

Express liquidation of an LLC is an accelerated liquidation process that takes less time compared to traditional methods. This method of liquidation is suitable for companies that do not have debts and have a clean financial history.

Liquidation LLC through a notary public

LLC liquidation through a notary is a convenient option for companies that wish to reduce the time and effort associated with liquidation procedures. The notary will help with the preparation of the necessary documents and ensure the legal purity of the process.

liquidation of LLC due to bankruptcy  

Liquidation of an LLC in bankruptcy occurs by a court decision in the event that the company is unable to fulfill its financial obligations to creditors. This is a complex process that requires the participation of a qualified lawyer to protect the interests of the company's owners.

LLC liquidation with an invalid address 

Liquidation of an LLC with an invalid address may be necessary if government authorities discover that the company is registered at a false address. In this case, the participation of a lawyer is mandatory to resolve all legal issues and avoid fines.

Why should you contact a lawyer 

The liquidation of an LLC is a complex process that requires knowledge in various areas of law. Contacting a professional lawyer has a number of advantages:

Saving time and effort 

A lawyer will help you prepare all the necessary documents and ensure that all procedures go through quickly, which will save you time and effort.

Protection of interests 

A qualified lawyer will protect your interests at all stages of liquidation, from representation in government bodies to settlements with creditors.

Legal support 

The lawyer will provide advice on all issues arising in the liquidation process, help avoid legal mistakes and ensure full compliance with the law.

Transparent price of services 

The cost of a lawyer's services during the liquidation of an LLC may vary depending on the complexity of the case. Usually, the price includes preparation of documents, consultations, representation in government bodies and other necessary actions. For example, the liquidation of an LLC in Kyiv, the price of which may vary, depends on the scope of work and the specifics of your company.

How to choose a lawyer for the liquidation of an LLC 

When choosing a lawyer for the liquidation of an LLC, you should pay attention to the following aspects:

experience and specialization in the field of corporate law,

positive reviews and recommendations of customers,

transparency of terms of cooperation and cost of services.

Conclusion 

Liquidation LLC service is a responsible step that requires professional legal support. By contacting a qualified lawyer, you can avoid many problems and successfully complete the liquidation process of your company. Let your company complete its activities without unnecessary hassles and in compliance with all legal regulations.


 

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