It is an event that usually occurs when a company is insolvent
Liquidation is the process of bringing a business to an end and distributing its assets to claimants. It is an event that usually occurs when a company is insolvent, meaning it cannot pay its obligations when they are due.Â Insolvency essentially means that a business reaches a point where it is not able to make necessary payments when they are due. Choosing liquidation converts the business assets to cash, which is then used to make these payments. In such cases, companies are no any more functional or there is simply a mutual agreement that it should be the end of a certain business. If an organization is in a situation like this, it can be expected that itâ€™s going to be a dissolved company in the near future. There are a couple of other names that liquidation is known for, such as winding-up or dissolution (which is the final step of the process) or deregistration.
ARC ASSOCIATES is one of the leading liquidators in UAE with a wide experience in the field. We have done liquidation of many companies in Dubai, Abu Dhabi, Sharjah, and UAE in the past, guiding business people step-by-step with the company liquidation process. We are registered liquidators in all free zones and the mainland.
Liquidation Rules & Regulations
In general, liquidation involves early termination of all unexpired contracts, disposal of all assets and inventories including work in progress, and obtaining certificates confirming the settlement of all liabilities from banks, lenders, creditors, and regulatory authorities. Some assets may be taken over by creditors, owners, or shareholders. In such cases, unbiased professional valuations may be required.
In the UAE there are specific liquidation and De-registration rules for:
- Onshore companies
- Free Zone companies
- Offshore companies
ARC Associates is an experienced Liquidator, ready to serve you. They are:
1. Registered liquidators in all free zones
2. Approved liquidators for LLC and FZ Company liquidation
3. DMCC approved auditors and DMCC Company liquidators
4. SAIF ZONE Approved liquidator
5. DAFZA Approved liquidator
6. DIFC Approved liquidator
7. Dubai Silicon Oasis Approved liquidator
8. JAFZA approved liquidators
It is advisable to consult professional approved liquidators for LLC and FZ company liquidation to discuss the process and timing of liquidation and deregistration. ARC Associates being an experienced liquidator can save the company time and money while safeguarding its reputation and offering peace of mind.