What is a Liquidation Report?

The liquidation report shall be prepared as of the date preceding the distribution to the partners of the assets remaining after the satisfaction or security of creditors. The report is then presented by the liquidators to the shareholders, who should approve it by a resolution of the shareholders’ meeting thereby closing the liquidation of the limited liability company. The liquidators shall announce the approved liquidation report at the company’s headquarters. If the shareholders’ meeting, properly convened by the liquidators, cannot pass a resolution to approve the liquidation report due to lack of a quorum, the resolution will not be required to announce the liquidation report at the company’s registered office and to report the closing of the liquidation to the registry court and to remove the company from the register of entrepreneurs.When approving the liquidation report, the shareholders should appoint a person to whom the books and documents of the dissolved company will be given for safekeeping. In the absence of such designation, the custodian will be appointed by the registry court.

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