Liquidation is carried out to liquidate a dissolved legal entity’s assets (the liquidation estate), to settle debts with creditors, and to dispose of the net asset balance resulting from liquidation (the liquidation surplus).
A legal entity enters into liquidation on the date on which it is dissolved or annulled. Over the duration of liquidation proceedings a legal entity uses its name with ‘v likvidaci’ [‘in liquidation’] suffixed to it.
Reasons for initiating liquidation
Appointment of a liquidator
Removal or resignation of a liquidator
Eligibility to be a liquidator
Obligations of a liquidator
Realisation of the liquidation estate and satisfaction of creditors’ claims
Final liquidation report
Disposal of the liquidation surplus
End of liquidation
Removal from the companies register
Renewal of liquidation