In case of liquidation procedure, the assumption is that the organisation has more assets than responsibilities. If after liquidation commencement it is discovered that the situation is reversed, then the organisation has to apply for bankruptcy in which case the process will be following principles of the Bankruptcy Act.
A corporate body is considered insolvent when its assets do not cover its responsibilities and the situation of the corporate body, upon taking into consideration its financial state, is not temporary.
SPT Inkasso is able to help on commencing the process, as well as joining it if the procedure has already been started.
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