Legal and Accounting Aspects of the Winding-Up Reorganisation

Ceasing the existence of any company requires the performing of certain operations meant to put an end to firm activity and breaking offof its legal person status. These operations are directly connected to company’s liquidation procedures.For the company to perform its debt payment operations, it has to convert its possessions into money. Company liquidation, as a step subsequent toits dissolution, is governed by certain principles which outline the legal status of the firm in liquidation.