A liquidator is a person or an entity that is officially appointed to liquidate the assets of the business. All the assets that are liquidated are sold off in the open market for cash or cash equivalents. The liquidator appointed is empowered with all the legal rights to act on behalf of the company by whom it is appointed.
When a company or a business is closing on account of bankruptcy, all the activities need to cease and all the assets are required to be liquidated so as to clear off the debts that are outstanding and are required to be paid by the company.
The liquidators are appointed by the court or by the stakeholders. As soon as the liquidator is appointed, he/she takes control over all the organizationsâ€™ assets. All the assets are later sold off to pay off the creditors. Any extra amount left after paying off the liabilities is distributed among the stakeholders. Apart from paying off the liabilities, the liquidators also take care that all the outstanding debtor receivables are collected and finish all the corporate termination requirements.
ARC Associates are one of the registered liquidators in the UAE who are well versed with all the legal formalities that are required to be fulfilled in closing a company. The team at ARC Associates has successfully handled the liquidation of the companies by preparing the liquidation report and handling all the procedures that are required to be complied with as per the regulations of the Department of Economic Development.
As the legal procedures and compliance could be a hassle for a business at the time of liquidation, ARC Associates is well experienced to handle the liquidation process with much ease and in a short period of time and could easily simplify the process of liquidation for the companies.
ARC Associates handle the liquidation process of Limited Liability Companies (LLC) as well as for the companies registered in various free zones. ARC Associates are approved and registered liquidators with the Courts in the UAE and have maintained a track record of successful liquidation of various Limited Liability Companies, Free Zone Establishments, and Free Zone Companies.
As there is no set time frame that could be defined for the liquidation of the company, ARC Associates strives to complete the process of liquidation in minimal time so that it becomes a bit convenient for the business which is already struggling to liquidate their business.
ARC Associates provides their services in liquidation to all the businesses as they are approved and registered liquidators in the UAE. For any concerns and queries regarding the liquidation of a company, ARC Associates is happy to help and serve and the professionals will guide you through all the procedures of the liquidation of a company.