Bankruptcy / Insolvency Law
Winding Up (Company)
The legal process of closing down a company, realising its assets, settling its liabilities, and finally dissolving its legal existence.
Winding up can happen voluntarily (initiated by the company's own shareholders or creditors) or compulsorily (ordered by a tribunal, often on grounds like inability to pay debts), and results in a liquidator taking over the company's affairs to wind them down in an orderly manner.
Once winding up is complete and the company is dissolved, it ceases to exist as a legal entity altogether.
Need a Bankruptcy / Insolvency lawyer?
Browse Bankruptcy / Insolvency Lawyers