Liquidation & Administration

Are you considering liquidating your business, or do you require an administrator to step in?

When shareholders or a holding company no longer require a company, it can be placed into solvent liquidation. This process involves realizing the company’s assets, resolving all outstanding matters, and distributing the surplus assets to the stakeholders.

The primary objectives of solvent liquidation are:

• Realizing the assets of the company
• Resolving all outstanding matters, including settling claims from creditors, employee benefits, and tax obligations
• Distributing the surplus assets to the stakeholders

In addition to these primary objectives, solvent liquidation can offer several other benefits:

• Group simplification: Eliminating dormant legal entities to achieve a more cost-efficient company structure
• Savings in audit and accounting costs
• Savings in management time spent preparing financial information, tax returns, and annual returns
• Recognizing and avoiding corporate memory loss, which is the loss or lack of knowledge transfer within an organization caused by departing senior executives
• Reducing the number of directorships held personally

At Okusi Associates, our team of experts, including our in-house Certified Public Accountant (CPA) and Notary Public, can assist you throughout the entire liquidation process. As administrators and liquidators of solvent companies, we initiate and finalize liquidations in a manner that optimizes the total return to shareholders.

Our comprehensive liquidation and administration services include:

• Assessing the company’s financial position and determining the most appropriate course of action
• Realizing the company’s assets and maximizing their value
• Identifying and settling all outstanding liabilities, including creditor claims, employee benefits, and tax obligations
• Distributing the surplus assets to the stakeholders in accordance with their entitlements
• Ensuring compliance with all legal and regulatory requirements throughout the liquidation process
• Providing ongoing support and advice to stakeholders throughout the liquidation process

If you are considering liquidating your business or require an administrator to step in, please contact Okusi Associates to discuss your specific requirements. Our experienced team will work closely with you to develop a tailored solution that meets your needs and ensures the best possible outcome for all stakeholders.

• If you only require a simple company closure, please see our Company Closure service.
• If you need advice to consider all the available options, please don’t hesitate to contact us for a consultation.

At Okusi Associates, we are committed to providing our clients with the highest level of service and expertise in company liquidation and administration. Trust our team to guide you through this complex process and ensure the best possible outcome for your business.

See Also: * Company Closure * Financial Statement Audit * Internal Audit