Closing the Business
We’ll help you choose the right way to close your business.
Liquidation is a way of closing down a business if the company’s assets exceed its liabilities. Our legal services in the liquidation process include:
- consultations
- preparation of documents for the dissolution of the company and its entry into liquidation, including the submission of a proposal to register the liquidation in the Commercial Register
- drafting a notice of entry into liquidation together with a call for claims in the Commercial Gazette
- preparation of the final report of the liquidator on the course of liquidation, proposal for distribution of the liquidation balance
- preparation of documentation to complete the liquidation, including filing for deletion from the Commercial Register
Bankruptcy, unlike liquidation, may be valid if the company’s liabilities are higher than its assets. The company must file a petition for bankruptcy proceedings in the event that the company is in bankruptcy. This means that either at least two receivables from various creditors with a maturity of more than 30 days are directed against the company or the value of the company’s due liabilities exceeds the value of the company’s assets. We provide the following legal services in this area.
Cancellation without liquidation is also one of the ways to terminate the company activity. If you have multiple smaller businesses and want to combine them into one and minimize the administration and fixed costs associated with running them, merger may be the ideal solution. The opposite situation occurs if you want to split one company into multiple companies, for example if you want each of them to run a different business separately under its own heading.
The company’s dissolution by an ex officio court decision may occur on the basis of a proposal or without it at the initiative of the registry court itself.
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If you are interested in legal services, please contact us
by e-mail at office@galikpartners.sk or by phone +421 948 380 584