Corporate & Commercial Company Liquidation Lawyers in UAE

Liquidation, also referred to as the winding up of a company, is the legal process of closing down a company. During this process, the company’s business operations cease, its assets are converted into cash, its debts are settled, and the company is ultimately dissolved.

Two types of liquidation procedures:

Voluntary liquidation – when a company’s shareholders decide to dissolve the company and wind up its affairs, either because it has achieved its purpose, is no longer needed, or is unable to continue its business.

Compulsory liquidation – when the company is ordered to be liquidated by a court, usually upon the application of a creditor, because the company is unable to pay its debts or for other legal grounds.