In a significant development, a company has decided to embark on the path of voluntary liquidation. During a general meeting held on February 12, 2024, the members resolved to wind up the company, appointing Shane Leslie Deane and Nicholas Giasoumi as joint liquidators. This decision indicates that the company is choosing to liquidate its assets and distribute the proceeds to its shareholders or creditors, as opposed to being forced into liquidation due to insolvency.
The Intricacies of Voluntary Liquidation
Voluntary liquidation is a process wherein the shareholders or partners of a solvent company decide to dissolve the business. This decision can be driven by various factors, such as retirement, disputes among partners,…
Read the full article at: https://bnnbreaking.com/finance-nav/voluntary-liquidation-understanding-the-process-and-costs