A liquidator will be the representative of the company to the public and the Court. The liquidator will bear the responsibility to settle all remaining debts of the company and sell its movable and immovable assets in auctions or; in any manner unless is it agreed in the partners’ resolution...
asset liquidation in the business world is mostly done as part of a bankruptcy procedure. When a company fails to repaycreditorsdue to financial hardship, a bankruptcy court may order acompulsory liquidationof assets if the company is found to beinsolvent. ...
The procedures for closing a wholly foreign-owned enterprise (WFOE) – its dissolution and liquidation – are no easier or shorter than the process of setting up such a company, and normally take between 12 to 14 months to complete. According to PRC law, a WFOE must be dissolved if any o...
A permanent current asset isthe minimum amount of current assets a company needs to continue operations. Inventory, cash, and accounts receivable fall under the category of current assets. ... However, permanent current assets will always be replaced by similar current assets within the one-year ...