Company liquidation is a termination of a legal body, when its activity is discontinued and the rights and duties are not passed to other legal bodies. Company liquidation may be voluntary or forced, however, in both cases it is a complicated legal procedure.
After taking the decision to liquidate a company, a liquidator is appointed and a service provision agreement is signed. A liquidator is a person, who performs all liquidation procedures until the legal body is unregistered from the legal body registry. From the time of appointment a liquidator takes over all company management functions and the smoothness of the company liquidation depends on his expertise and regularity. A company is liquidated when the legal body is unregistered from the legal body registry.