Frequently Asked Questions
What is the purpose of liquidation?
The purpose of liquidation is to ensure that a company's assets are distributed fairly among its creditors and shareholders in a legal context. This process allows for the orderly dissolution of the company and the settlement of its outstanding obligations.
What are the different types of liquidation?
There are two main types of liquidation: voluntary liquidation and compulsory liquidation. Voluntary liquidation occurs when the company's shareholders decide to wind up the company's affairs. Compulsory liquidation, on the other hand, is initiated by a court order in response to a creditor's petition or other legal grounds.
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