Why does Company Liquidation in Singapore happen?
Company Liquidation in Singapore happens when a business is swamped with debts and struggles to resolve any payment which eventually leads them to close down the company. At Acres Advisory, our consultants are ACRA Approved liquidators who will review and provide detailed procedure advice on Liquidating a company in Singapore.
Liquidating a company in Singapore voluntarily by its members or creditors
If members of the company believe that they can clear off the company’s debts within a year, the company can opt for Member Voluntary Liquidation procedure. Otherwise, the company can close down the company by the way of Creditor Voluntary Liquidation.
In both cases, companies will need the assistance of a professional liquidator who is experienced in handling company liquidation in Singapore to close down their company swiftly for them. The appointed liquidator will seize and realize the company’s assets and pay off the company’s debts and liabilities with the proceeds.
Need professional help on Company Liquidation in Singapore? Engage with us and get our professional liquidator’s advice and guidance on the process of Liquidating a company in Singapore.