Winding up

[Hramato]

I'm planning on dissolving a company structure, having a trust agreement with the hosting company.


How would the dissolving procedure go, when the company cash has been ran out?


As, the hosting company would probably charge (maximum as they can get) for liquidation, I would rather choose to try minimizing the cash leftover first.


I know, that according to the procedure company assets need to be sold in order to pay the bills, but in this case it mostly consist on a laptop and a cellural phone. What is the order of paying the bills; first in first out?

 

[JohnLocke]

In what jurisdiction is your company located?

 

[Hramato]

Thanks for reply,


The trading company is in Malta, holding in Cyprus.

 

[JohnLocke]

Usually you have to sum all debt then divide the sum into the number of creditors and send them all their share. This can only (and should only) be done if all creditors and lenders have agreed to this! If they don't and you just pay as for instant "first in first out" and the whole thing goes to court, they will do request all money paid to anyone within the last 2 years to be paid back and they will do the math as above. It can be questioned if it is possible to get the money back, for instant you could have paid a good amount of money to some sort of offshore company which anonymity is protected very well and it will be almost impossible for anyone to penetrate that company!


Hope it helps, otherwise consulting a local lawyer in Malta would be advisable.

 

[cyprusbanker]

If you have done all this with an offshore company for instant in the BVI, Seychelles or Belize you could simply take out all the money and assets and close the company, no one will ever ask question or be able to get after you That's the beauty of all offshore incorporations

 

[clemens]

Do you think no one will ask questions, cyprusbanker?

 

[JohnLocke]

testing a word

 

[clemens]

testing a word

What is this Admin ?

 

[JohnSeed]

What you want to do is to simply get rid of the company by liquidation, it costs a fee but better than run and hide.

 

[tax-haven]

What you want to do is to simply get rid of the company by liquidation' date=' it costs a fee but better than run and hide.[/quote']
You can do this anytime, just make sure that you are not personal liable for any charges incured by your agent for serving the company!!

 

[JohnSeed]

You can do this anytime, just make sure that you are not personal liable for any charges incured by your agent for serving the company!!

thanks for clarification I learned the same from the agent I have been using helping me to fomr my offshore company structure.