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Company Liquidation Procedure in Malta
Company Liquidation in Malta
An enterprise, as a legal entity, is a business instrument. The company may be included in the risk list, owe to suppliers or lessors, receive a fine from state authorities, and become a field for conflict between the founders. Solving the company’s problems in court or other ways is only sometimes possible, meaningful, or economically beneficial. In this case, you need to get rid of this “useless tool.”
Today, company liquidation in Malta is the most common way to break up a problematic or unnecessary company.
Liquidation Procedures for Companies in Malta
Company liquidation in Malta is a rather complicated process. You must meet many conditions to comply with the procedure’s legality and to satisfy the requirements of counterparties, partners, and creditors. Only then can the company be considered officially liquidated.
Who Can Help With Liquidation Services?
Why do we recommend contacting Financial Chain Corporation to get help with a company liquidation process? There are several significant reasons for this:
- FCHAIN employs highly qualified specialists.
- We have a lot of experience in the process of company liquidation in Malta.
- Our lawyers try to carry out the necessary procedure in the shortest possible time.
- Confidentiality: It is only sometimes necessary for the general public to know about the company’s liquidation process. We guarantee that the business’s liquidation will take place without unnecessary information.
Company Dissolution
Dissolution of the business is a more formal procedure for the liquidation of a company, which involves the orderly termination of the company’s affairs, the appointment of a liquidator to manage the process of the sale of the company’s assets, the termination or sale of its operations, the payment of its debts (if any), and the distribution of the remaining assets
Liquidation Process
The liquidation of a company means the termination of its legal existence. As a rule, it consists of the following: the organization of persons that make up the company ceases to exist, and the common goal of doing business no longer binds these people.
Reasons to Liquidate a Company in Malta
The reasons for the company’s liquidation can be different. The most common are the following:
- the decision of the owners to end the activity;
- unprofitability, lack of profit;
- absence of action, the existence of the organization only “on paper”;
- intention to change the direction of activity;
- indebtedness to creditors;
- admission of violated legislation (it is easier to create a new legal entity than to continue the work of a problem firm).
Termination of the company’s activity is possible:
- voluntarily;
- by a court decision;
- through the conclusion of the competent authorities.
The lawyers of FCHAIN, professionals in the field of corporate law, provide legal assistance in liquidation.
What Are the Reasons for Running Company Dissolution Procedures?
Reasons provided by the company’s charter:
- expiration of the term for which the company was contracted;
- achievement of the goal specified in the company’s charter.
The decision of the partners or shareholders of the company:
- in a partnership, there must be a unanimous decision of all partners. In companies with capital and joint-stock companies with limited liability, it must be a decision of the general meeting on the company dissolution.
Thus, to minimize costs, as well as preserve your peace of mind and time, it is best to contact FCHAIN Corporation for the professional company liquidation service in Malta.
Consultation
Write to us or find the nearest office