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These include liquidation of resources and the supplying of the incomes to owners and creditors. Thus, the main disparity between dissolution and liquidation is that liquidation comprises the entire dissolution procedure.This paper discusses the difference between liquidation and dissolution and analyzes how assets and shareholders are dealt with in such a situation.
In addition, when the accomplishments of a corporation are exasperated, then the corporation can start to liquidate its resources.
It implies that the corporation will require assistance and lower their finance.
Some corporations pick up after liquidation but most of them do not. The voluntary procedure deals with other officials or the creditor getting access to the corporation’s resources because of defilement of the law or non-payment.
The minutes of the meeting shall be submitted to the Ministry of Commerce within fourteen days from the date of the meeting.
The liquidator has the duty to deposit all the company's books of accounts with the Registrar's office, where they shall be kept for ten years counting from the date of final approval of the liquidation.
How Assets and Shareholders Are Dealt With In The Case Of Liquidation and Dissolution Asset management in business dissolution is determined by the current position of the ideal stock.