Corporate Law & Business Law
Legal Entity
The legal entity has a legal identity distinct from its members. Understand who contracts, owns assets, and takes legal action.
Lexicon
Corporate Law & Business Law
Voluntary Liquidation
Voluntary liquidation organizes the end of a company after its dissolution, by realizing assets, settling debts, and distributing the balance according to applicable rules. A liquidator conducts the operations within the framework of their mandate.
It is distinct from bankruptcy and certain dissolutions without liquidation. The will of the partners to close the company does not allow ignoring the creditors' rights. The decisions, accounts, and closing formalities must be prepared and preserved.
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