Joint Stock Companies Liquidation

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Joint Stock Companies Liquidation. Liquidation process of the joint stock companies in Ukraine.

Joint Stock Company (JSC) is one of the most common forms of enterprises in Ukraine. Activity of joint stock companies is regulating by the special Law “About Joint Stock Companies”.

Specialists of the Law Company Colares are providing the whole Spector of services on any stage of the joint stock company activity: from the registration and up to liquidation of the joint stock company.

Triggers for the joint stock company liquidation are:

  • The decision of owners (shareholder of Joint Stock Company) about the liquidation of the joint stock company which they could make as the result of the decision about the stop of performance and in the cases ascertained by statute.Mentioned above reason is the most common in Ukraine for the beginning of the joint stock company liquidation. The liquidation procedure, defined by the Law is intended to speed up the process, but rather often such companies are passing the liquidation procedure during years. The biggest parts of possible reasons for such timeout with the liquidation of joint stock company are connected with the time needed for the tax audit.
  • The decision of the court about winding-up of the joint stock company. In example, such decision could be made as a result of the breach of the terms implied by law, especially if invalid data or forged documents were given to Registrar of Companies during the State Registration of the joint stock company.

 

It should be mentioned that according to the Law, the bankruptcy case could be initiated by the Commercial Court if the total value of indefeasible demand of creditor (creditors) is not less than 300 minimum guaranteed salaries (today it makes 365 400 UAH) and which were not satisfied during three months after the terms of repayment of money were defined.

According to all mentioned above the liquidation process of the joint stock companies in Ukraine is rather complicated. That is why for the matter of time and money economy it makes sense to consult the specialists. Lawyers of the Law Company Colares are exactly such specialists and they’ll consult you in any legal issues and also help you to pass the process of the joint stock company liquidation.

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