Liquidation Services

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Company liquidation services in Dubai are required in the case of closing a company when it can’t pay its debts. This process involves selling the company's assets to pay off debts, cover costs, and distribute any remaining funds to the owners. 

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Liquidation can happen voluntarily or through a court order. A professional liquidator is appointed to handle the process of selling assets, paying creditors, and officially closing the business.

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Types of Liquidations

There are two main types of company liquidation as follows:

Compulsory Liquidation 

Compulsory liquidation happens when a company doesn't pay its debts. Creditors can ask the court to close the company so they can recover their money. 

Therefore, the court may force the company to sell its assets to pay off its debts, and a liquidator should be appointed by either the shareholders or the court to handle the liquidation process.

Voluntary Liquidation

Voluntary liquidation happens when the company's shareholders have the will to close the business and agree to cease the company’s operation and cancel its licenses.

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What We Provide

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• Controlling Assets

Our liquidators will take charge of protecting the company's assets from loss or misuse. This includes property, equipment, bank accounts, and investments.

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• Assets Valuation

We will take care of the company's assets valuation based on standard industry methods to determine their fair value in the market. This step is crucial to ensuring the fair distribution of funds to creditors and shareholders.

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• Resolving Liabilities

Liquidators process the company's debt settlement by reviewing and verifying creditor claims. 

This process requires a specific order to pay off the debt. Secured creditors get paid first, then unsecured creditors, and finally shareholders.

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• Selling the Assets

In case of the need to sell assets in order to pay off the company’s debts, our liquidators rely on methods like auctions or private sales to get the best value for assets offered for sale.

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• Funds Distribution

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After selling the assets, we take care of distributing the funds according to the priority of creditors' claims. Any remaining funds are distributed to shareholders.

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• Reporting and Compliance

Within the liquidation process, we submit regular reports to government authorities and stakeholders to keep them updated and to ensure transparency. 

We ensure adherence to all laws and regulatory requirements throughout the liquidation process.

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• Handling Legal Issues

We handle any legal issues relevant to the company’s liquidation, such as disputes among creditors or issues with asset valuation. 

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Stakeholder Communication

We open communication with creditors, shareholders, and other parties involved in the liquidation process to address any concerns or inquiries.

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Contact us today to get a professional, transparent, and smooth valuation and liquidation process with one of the best auditing firms in Dubai.

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