Liquidation of Companies

Liquidation of Companies

The Standars Legal firm has held and still holds the role of company liquidator, appointed by the shareholders’ meeting and operates in the liquidation of companies.

Liquidation is the final stage in the life of the company, but it is not the end of business efforts. All attention must now be focused on trying to get the most out of the saleand disposal of the company’s assets, trying (where necessary) to ask for credit write-offs or more favorable payment terms.

The company is not sold as a whole, as in the case of acquisition transactions, but the individual activities are carried out by “liquidating them” from the company as a whole or by selling them as a whole, coordinated in smaller company units.

The liquidation is deliberated by the shareholders’ meeting and with the appointment of one or more liquidation commissioners.

For companies of any type, from the moment the appointment is accepted,the liquidators replace the directors and begin their work of reconstructing the balance sheet and the liquidation of company’s assets.

The Firm then negotiates with all creditors in accordance with legal procedures, reconstructing liabilities and drawing up liquidation accounts and sales plans.

Debt Restructuring Agreements

The Firm also assists companies in difficulty or financial distress by giving them access to special debt restructuring instruments.

The assistance of the specialized Partner in the drafting and presentation of restructuring or discharge agreements for medium and small companies allows companies to design complex operations for  reconstruction of liabilities and negotiation with creditors  for credit cracks, even in cases of internal disputes between shareholders.

Within the debt restructuring procedures, the Firm also assists companies in drafting, negotiating and filing  tax transactions, in order to allow a definition of the company’s tax exposures. 

Tax transactions allow the company to negotiate its tax liabilities with the tax authorities in order to pay them with tax breaks that must be carefully studied and negotiated with the Revenue Agency.