Common Mistakes That You Should Avoid While Liquidating Your Company

1. Common Mistakes That You Should Avoid While Liquidating Your Company

2. An Introduction Liquidating or winding up your company is the process in which a liquidator collects and sells the assets of the company to pay off debts owed. Once the debt gets paid, the company is dissolved. Clearly, company liquidation is a great way to close a company that is no longer to trade because of its pending debts. When it comes to liquidating your company, hiring a project management company is an ideal choice! There are so many companies out there! MPMS is a project management company that can help you with company liquidation in Dubai, UAE.

3. 01 Liquidating Too Late Common mistakes that you should avoid while liquidating your company: 02 Poorly Prepared Statement of Affairs and Chairman’s Statement 03 Answering Questions of Creditors in an Inappropriate Way

4. Liquidating Too Late According to the law, a company goes into liquidation when it is unable to pay off its debts. Certainly, this is a difficult moment but it’s important. Many business owners push time which leads to so many penalties and unnecessary expenses.

5. Poorly Prepared Statement of Affairs and Chairman’s Statement Before stepping into the process of company liquidation, you need to take care of all necessary documents. Many business owners don’t take care of documentation which impacts their company liquidation process.

6. Answering Questions of Creditors in an Inappropriate Way You need to understand that handling the question of your creditors correctly is important. If you can’t be able to handle those questions and concerns, then investing in professional company liquidation services is an ideal move.

7. THANKS! Contact Us +971-55 (554) 0853 info@themilestoneuae.com www.themilestoneuae.com