Liquidation of ALC

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The legislation of Ukraine defines an additional liability company as an economic company consisting of one or more participants, in which the authorized capital is divided into parts. The size of these parts is determined by the charter.

ALCs differ from limited liability companies by the fact that their participants in case of insolvency of a legal entity are liable not only for their contributions to the authorized capital. In case of insufficiency of contributions, they are liable additionally with the property belonging to them. The boundary amount of liability is prescribed in the charter.

The legal status of ALCs is similar to that of LLCs, and the liquidation procedure is also similar. The result of liquidation is the termination of a legal entity's activity without transfer of its rights and obligations to other persons by way of legal succession. The company is considered liquidated after making the appropriate entry in the Unified State Register.

It is no secret that it is always easier to open an enterprise than to close it. The owner of the business will have to collect a package of documents, get certificates from the tax authorities, pension fund, social insurance fund. It is also important to choose the right method of liquidation to close the enterprise with the least problems and costs. Legal Solutions lawyers will help to conduct the procedure competently, taking into account all legislative nuances.

We offer liquidation:

• By sale, or more precisely by replacing the director or owner.
• Through bankruptcy proceedings.
• By decision of the owner, in the general order.

Liquidation through sale does not actually provide for the closure of the company and exclusion from the Unified State Register. Ownership rights and obligations are transferred to another person. This method is suitable for a troubled business, in the presence of debts, as well as if the activity must be terminated in a short period of time. The least costly procedure, no tax inspection checks are required.

Bankruptcy procedure is carried out in court with the participation of an arbitration manager. The main advantage of this method - in the termination of debt obligations without repayment of debts. In addition, liquidation does not require inspections. The company is deregistered from the tax authorities automatically, on the basis of a court decision.

Closure of ALC in the general order is carried out by taking a decision at the general meeting of participants, which is formalized in the minutes. The decision is adopted by a majority of votes, provided that the meeting was attended by participants holding at least 50% of the votes. In addition, the meeting determines the composition of the liquidation commission, which will perform the liquidation.

The main stages of liquidation of ALC

• Adoption of the decision, appointment of the liquidation commission.
• Submission of an application to the state registrar.
• Publication of the decision on liquidation in the media.
• Settlements with creditors.
• Deregistration from the tax inspection, social insurance fund, pension fund.
• Submission of the full package of documents to the registrar, making a record in the Unified State Register on the closure of ALC.
• Issuance to the applicant of an extract from the Unified State Register on the removal of the company from the register.

What documents must be submitted to the state registrar

• Minutes of the meeting at which the decision to close the company was made.
• Completed registration card for liquidation
• Certificates from the tax office, pension fund and social insurance fund on the absence of debts.
• Certificate from the archives on the acceptance of documents that are subject to long-term storage.

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