What is winding up of a Company?
When a company is winding up, it is closing its business operations for good. This means that the company will no longer be in existence. For this process to be approved, there has to be just and equitable grounds for winding up a company. It has to be done according to the winding up of a company Companies Act 2013. In addition, the company may liquid its assets and resources in order to pay off its liabilities and other financial obligations.
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What is the process of winding up of company?
There is a process of winding up of company. This begins with an agreement among the shareholders. This decision is made formal after a supervisor is appointed to supervise the winding-up process. At this point, the undertakings of the company are settled. The shares of the company are passed on to its shareholders as well as lenders. After which the company is finally dissolved and it stops existing as a legitimate entity.
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We offer tailored services for the complete winding up of a company process. In order
to minimize the consequences of winding up a company, you will need our expert
services. This will ensure that you comply with all the requirements as mandated by the
law. We ensure a smooth and stress-free company winding up process.
Frequently Asked Questions
We provide professional company winding up services that are fast and smooth.
The aim of this process is to make sure that the company winds up its operations properly.
We ensure that this procedure goes on smoothly from the filing of s petition start all the way to final approval.
It can take between 2 and 3 months to complete the winding up process.
When a company winds up, it totally stops its business operations. In the case of liquidation, it sells of some assets to pay its creditors before the company is totally closed.