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The best way to liquidate a company

Dear sir/madam,

What is the difference in procedures and possible outcomes between the following?

A. Creditor of a company starts a lawsuit to liquidate the company versus,

B. One of the partners of the company starts a lawsuit to liquidate the company.

The partners do not agree to mutual liquidation. However, neither of the partners wishes to be detained for embezzlement, etc and they want a quick resolution of the matter.

Which option is better for liquidation?

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Mohamed Bakheet

Mohamed Bakheet Advocates & Legal Consultants

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25 Sep 2022, 09:26

Dear questioner,

Register a liquidation case with the Commercial Court and appoint an accounting expert to liquidate the company among the partners.

25 Sep 2022, 09:40

Are the procedures and risk of imprisonment the same irrespective of if the creditor registers a liquidation lawsuit or a partner registers a liquidation lawsuit?

25 Sep 2022, 09:52

The best is a bankruptcy suit.

30 Sep 2022, 02:51

Thank you.

Which lawsuit has lower chances of criminal case : Liquidation or Bankruptcy?

What are the legal differences between liquidation and Bankruptcy?

30 Sep 2022, 02:59

This is long story to explain

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