Liquidation
of a company

We organize all liquidation processes of your company.

The very start of a technical part of business is setting up a legal entity. However, just like the establishment of a legal entity, the liquidation of a legal entity is also an important procedure when it is decided not to carry on business.

According to the current laws of the Republic of Lithuania, there are 7 grounds for liquidation. The most common cases of liquidation in practice are two out of the mentioned 7 grounds:

• Voluntary - the decision of the participants of the legal persons themselves to discontinue the activity of the legal person.
• Compulsory - Compulsory liquidation could be further subdivided into a couple of other subgroups:
  • the decision of a court or a meeting of creditors to liquidate a legal person due to bankruptcy
  • initiated by a decision of a public authority, i.e. the keeper of the register of legal persons, to liquidate a legal person.

You get the right to liquidate the company yourself when you decide to liquidate it voluntarily.

Why is it important to liquidate a legal entity voluntarily?

There are several reasons why the liquidation procedure is important in the life cycle of a legal entity. Not only it will help to avoid sanctions imposed by the state (e.g. payment of fines imposed for non-compliance with legal obligations), but it will also simplify cooperation with public authorities or banks when undertaking other activities.

It is also worth liquidating a legal entity voluntarily because, when a legal entity is wound up by a decision of the members, the remaining assets are distributed among the members of the legal entity. In contrast, if the legal entity is wound up compulsorily, i.e. on the initiative of the Court/Creditors' Meeting or the Registrar of Legal Entities, the members have problems with the remaining assets, for which they will have to apply to the court.

How can we help you?

When a company is wound up, the law imposes an obligation to appoint a liquidator. This person is responsible for collecting all the necessary documents and submitting them to the authorities during the liquidation cycle. The number of processes involved in the whole context is significant, and without specific knowledge, the most important human asset - his time - is lost.

If you decide to liquidate your company voluntarily, we are able, willing and ready to help you with all the "headaches" that this topic may cause to you.

• It will be important for us to understand whether you wish to be appointed as a liquidator yourself or whether you will delegate this responsibility to us.
• Once we have agreed on the liquidator, whether you decide to be the liquidator yourself or to entrust the task to our team, we will provide you with a concrete plan and its time distribution.

Why us?

• We have years of experience and a professional team.
• We have liquidated dozens of companies.
• We can split the payment for the service into instalments if required.

Email or call us and we'll discuss everything promptly!