Dissolution and Liquidation

Most people understand that companies can go out of business, but very few people understand the difficulties of shutting down a business.  The circumstances surrounding a business closure can make a significant difference. An owner who chooses to retire or pursue another opportunity may have considerable flexibility. A business facing financial distress, insolvency, or the death or disability of an owner may have far fewer options and much more at stake. Creditors and other interested parties may have rights that extend beyond the company itself, potentially creating personal or estate-level consequences.

Proper dissolution and liquidation require more than simply shutting the doors.  Depending on the circumstances, the process may include resolving claims, settling debts, identifying and disposing of assets, distributing remaining assets in accordance with applicable law and the company’s governing documents, and making required filings and notifications with government authorities.

The sooner you seek legal advice, the more options you are likely to have.  Whether you are voluntarily closing a successful business, winding down an inactive company, or dealing with financial distress, Melton Legal Services can guide you through the dissolution and liquidation process and provide as much peace of mind as your circumstances allow.  If your business is struggling, do not wait until your options are limited.  Sound advice and early intervention can make a meaningful difference in the outcome of your case.