Company liquidation services in Nigeria
Company liquidation, often referred to as winding up or dissolution, is the procedure of shutting down a company and allocating its assets to its creditors and shareholders. This process usually occurs when a company cannot sustain its operations, which may be due to financial troubles, insolvency, or a choice made by the company’s owners.
The main objective of liquidation is to close the company’s operations systematically, settle its liabilities, and allocate any leftover assets to its stakeholders.
Liquidate the company with us
If you intend to liquidate your business in Nigeria, our specialists are ready to assist you. Easily navigate the complexities and ensure a smooth, efficient liquidation process. Leverage our in-depth knowledge for a trouble-free dissolution. Our seasoned professionals take care of all aspects, such as documentation, creditor claims, and asset distribution. Get in touch with us today to talk about your liquidation requirements and guarantee a successful wind-up in Nigeria.
Expert guidance at every step
During the business liquidation process in Nigeria, our committed team of experts is here to assist you, offering guidance, support, and their expertise. From the first consultation to the final steps of dissolution, we aim to make your experience as smooth as possible. Our extensive services cater to all aspects of the liquidation process, ensuring you receive the necessary support at every stage. With our team, you can navigate the intricacies of liquidation with confidence, assured that experienced professionals are managing your case with attention and accuracy.
Personalized strategy
We customize our approach to address your individual needs and goals, ensuring that your insolvency plan is in line with your intended results. This tailored strategy guarantees that each phase of the liquidation process is focused on successfully accomplishing your objectives.
Legal compliance
Our team adeptly maneuvers through Nigeria’s intricate legal environment, making certain that every document, filing, and procedure adheres to local laws. We carefully manage all legal obligations, minimizing the likelihood of issues and facilitating a seamless process.
Financial expertise
Leveraging extensive financial knowledge and valuation skills, we optimize asset value and reduce financial risks during the liquidation process. Our financial strategies aim to safeguard your interests and increase the worth of your assets.
Effective communication
We guarantee clear and effective communication with all stakeholders, promoting a seamless and efficient insolvency process. Our method keeps everyone updated and involved, reducing misunderstandings and improving collaboration.
Specialized solutions for different legal entities
Our tailored solutions address the specific needs of different legal entities in Nigeria. Whether you are liquidating:
We tailor our strategies to accommodate the unique legal and financial details of your business structure. This guarantees a streamlined and compliant liquidation process that is tailored to your entity’s requirements. Rely on our expertise to address the specific challenges associated with your type of business, delivering a smooth and efficient wind-up.
Alternatives to liquidation
In addition to liquidation, there are other options that businesses may explore:
Selling the company
Rather than shutting down, a company might look into the possibility of selling its business operations or assets to another organization.
Administrative receivership
When there is a default on secured debts, a creditor who possesses a floating charge on a company’s assets has the authority to appoint an administrative receiver to oversee and sell those assets in order to settle the debt.
Company voluntary arrangement (CVA)
This entails suggesting a formal arrangement with creditors to settle debts over a designated timeframe, enabling the company to keep operating.
Administration
Administration enables a company to undergo restructuring to save it from insolvency, permitting it to keep operating under the oversight of an administrator.
Director disqualification and company name restrictions
Directors may undergo disqualification proceedings if it is determined that they participated in wrongful or fraudulent activities that resulted in the company’s liquidation. This disqualification can prevent them from serving as directors for other companies for a set duration. Additionally, following liquidation, there are limitations on the reuse of the company name. The name cannot be utilized for a new business unless authorized by the court or a designated period has elapsed.
Our attorneys can assist you with any of the following:
- Getting ready the paperwork needed to start the liquidation procedure.
- Removal of the business from the commercial register.
- Designating a professional liquidator to fulfill your needs.
Contact us now
Get in touch with us and allow our team of experts to guide you through a successful business insolvency in Nigeria. Together, we will skillfully navigate the process, aiming for the best results and a seamless shift to your next venture.