Procedure liquidating a company kenya
These include liquidation of resources and the supplying of the incomes to owners and creditors. Thus, the main disparity between dissolution and liquidation is that liquidation comprises the entire dissolution procedure.
This paper discusses the difference between liquidation and dissolution and analyzes how assets and shareholders are dealt with in such a situation.
It necessitates the payment of everything, which includes federal states and local plus the ensuing shutting of each tax account.
The articles of merger, which are drafted when the corporation is formed, should show in detail the procedure in the incident of business dissolution.
In addition, when the accomplishments of a corporation are exasperated, then the corporation can start to liquidate its resources.As soon as a corporation completes the dissolution procedure, it is no more a formal lawful unit.