Corporate law

Liquidation of enterprises. Bankruptcy

The process of liquidation of an enterprise requires a competent and calibrated legal approach and accompaniment. Specialists of the company “Law Consulting Group” offer professional services for the resolution of similar problems.

A legal entity ceases conducting its business as a result of transfer of all its property, rights and obligations to other legal entities- successors, in the result of a merger, accession, division, transformation (reorganization) or as a result of liquidation by decision, which is taken by the founders (participants) if the legal entity or organ authorized by them, by the decision of a court/by judicial decision, or by the decision of a public authority, used in cases stipulated by law.

A legal entity is deemed to have ceased to exist, from the date entered into the Unified State Register as the date of the termination of the legal entity.

State registration of the termination of a legal entity is organized according to the law of Ukraine “On state registration of legal entities and individual entrepreneurs.”

Under this law, the following typed of liquidation are highlighted:

1) Reorganization by:

Accession/joining - is the joining of one or more entities to another entity. These entities cease to exist, and their rights and obligations/responsibilities are transferred to the entity to which they are acceded.

Merger - The merging of two or more entities into one new entity, while these legal entities cease to exist and pass on their rights and responsibilities to the newly established entity.

Division - The emergence of two or more new entities by splitting an existing legal entity that ceases to exist, and the newly created entities are the successors in the parts determined by their statutory funds.

Transformation - A change in the legal form of a legal entity without the entity ceasing to exist.  When there is transformation of a legal entity, there is always succession.

Isolation/selection - The separation of one or more entities from one of the existing legal entities (the creation of subsidiaries, separation of structural units). The new entity has the same legal rights and responsibilities as the parent company.

2) Liquidation:

By the decision of the owners-  The procedure of exercising the will of the owners concerning the termination of business activities of the subject/business entity. This procedure involves the application/appeal of the owner/owners to the competent authorities and carrying out a check of the entity and passing a Decision on the termination of the business activities of the entity;

By Judicial decision/decision of a court through bankruptcy- The procedure takes place in the event of creditor debts to the budget and creditors. This procedure is done without having to carry out a tax audit.

2) Sale of corporate rights- Transfer of a packet of property rights and obligations to another owner by signing relevant/appropriate documents at the notary.

Specialists of the Law firm “Law Consulting Group” considering all the specifics and nuances of the arisen situation concerning your company, are ready to provide a full specter or legal services, associated with liquidation:

 - By selling corporate rights;

 - Thorough bankruptcy;

 - By the general procedure.

 

Our range of legal accompaniment services regarding liquidation of enterprises are the following:

 - Legal examination of documents;

 - Advice/Consultation on bankruptcy;

 - Analyzing the financial condition of the enterprise;

 - Litigation in bankruptcy cases;

 - Provision of liquidator services/ Provision of arbitrary management services**

Where is the beginning of that end which terminates in the beginning?

                                               Kozma Prutkov.

Thanks to the experience and individual approach to work of the lawyers of our company from the beginning to the end of the process of liquidation of an enterprise, you are guaranteed protection from any form of negative consequences, associated with the previous activities of your company.