Liquidation of several companies at the same time or companies with a complex structure
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Reviews of our Clients
... our work on joint projects assured us of your high level of professionalism
In September 2023, a loyal client reached out to us – the owner of a chain of businesses. Some of these had become "redundant," and he wished to eliminate the excess, retaining only the essential ones. We were acquainted with the specifics of each enterprise since they were under our maintenance.
Their structure was designed in a way that one business gave rise to another, forming a network of parent-child relationships. Overall, the client was indifferent to the precise method of shedding this excess baggage. We explored various options, including conventional liquidation and an alternative approach, such as a temporary freeze on operations. However, the most optimal choice proved to be the alternative dissolution of the firm, as it was the quickest and most conclusive.
We'll elaborate further on this successful case from our experience, as it represents one of the many instances of our professional approach to orchestrating intricate legal processes.
Liquidating a Company with a Complex Structure
What does alternative company liquidation entail? We have previously elucidated this topic in our materials on multiple occasions. For a more in-depth understanding, you can refer to Alternative Liquidation of Two LLCs in Ukraine: Real-Life Experience. We have also covered various methods of company liquidation in Ukraine.
In this specific case, it presented no challenges for us, only a few nuances. One such aspect was that the majority of the enterprises were founded by a U.S. citizen who could not physically be present in Ukraine. Consequently, all procedures had to be executed through power of attorney. Additionally, we endeavored to organize the process in a manner that would allow him to sign all necessary documents at once, thereby avoiding the need for multiple shipments to Ukraine. We successfully managed and closed this requirement, ensuring not only a speedy but also a comfortable preparation of all essential documents, despite the substantial geographical distance.
Another unique aspect was that the mentioned U.S. citizen was the sole founder of some enterprises and a co-founder of others. The latter, in turn, became founders of additional enterprises. Following this chain required a sequential approach; otherwise, unnecessary steps would be unavoidable. Hence, we meticulously outlined the complete ownership structure, encompassing the entities of each enterprise. Subsequently, we began the process of removing those "links" that were either unaffected or served as the endpoint (yes, working backward).
Our team maintained constant communication with the client throughout every stage of the process, offering detailed consultations and addressing all inquiries. We simplified all formalities and legal matters to the maximum extent, ensuring both convenience and a swift conclusion to the operations of unnecessary companies.
Facilitating Fast and Legal Company Liquidation in Ukraine
In reality, with proper planning, it took no more than two weeks after receiving documents from abroad for the entire process. This is in stark contrast to the typical liquidation, which can span years, or approximately a year if artificially expedited by pushing everyone involved. Thus, the client was quite satisfied with the outcome and the pace achieved.
If you are pondering how to dispose of a business that has run its course or if you no longer have the means or desire to manage it, feel free to reach out to our team.
The cost of the LLC liquidation procedure in collaboration with us can be found here.
We will find the optimal solution for you, ensuring that everything is done strictly within the confines of the law, and we will handle all the complexities of legal tasks!
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