1 Answers

Lorina Fedan

Answer provided 08.06.2023 12:40

Liquidation is one of the forms of termination of a legal entity. The liquidation of legal entities is carried out without the transfer of the rights and obligations of the liquidated enterprise to other persons, that is, without legal succession. Upon liquidation of the enterprise, its rights and obligations are terminated.

Valuation of the assets of the liquidating enterprise mainly consists in reducing the value of the assets to the value of their possible realization and recognizing additional liabilities (for example, it may be severance pay for employees) or reducing the provision for reimbursement of future expenses (for example, for the payment of employee vacations), which arise in the enterprise in connection with the adoption of a decision on liquidation.

The answer is informational and does not replace a full legal consultation. For a detailed analysis of your situation, contact a lawyer directly.