Unmonitored random cam - Process of liquidating a company

Bolagsverket will impose penalties for late filing during the liquidation process.

Process of liquidating a company

The shareholders may choose to start the process at once, at the date of the general meeting, or at the latest the last day of the financial year-end.

A liquidator (likvidator) is the person in charge of the closing process.

Bolagsverket then publish the summons in the official gazette, Post- och Inrikes Tidningar.

The unknown creditors must contact Bolagsverket within six months.

Once the process has been completed the company will be struck off the company register and cease to exist.

The decision to put a limited company into liquidation must be taken by the shareholders at a general meeting.

Immediately following the issue by the Registrar of a certificate of dissolution, the person who, immediately prior to the dissolution, was the voluntary liquidator of the company shall cause to be published in the Where the company to be liquidated is a regulated entity under BVI law, the prior approval of the Financial Services Commission must be obtained.

Other than in the case of a regulated fund, the voluntary liquidator of a regulated entity must be a licensed insolvency practitioner.

The limited company is liable to pay the liquidator’s fee, which can be quite substantial, and the shareholders may therefore suggest a liquidator.

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